Insurance claim
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
22 November 2012
What entry will have to be passed for insurance claim received in case of damaged business assets?
CA SAYANTAN BASU
(Expert)
23 November 2012
DEAR SIR ,
THE JOURNAL ENTRY IS :
1. INSURANCE CLAIM A/C ---DR
To LOSS OF STOCK A/C/
STOCK A/C
2. BANK A/C ----DR
TO INSURANCE CLAIM A/C
THE JOURNAL ENTRY IS :
1. INSURANCE CLAIM A/C ---DR
To LOSS OF STOCK A/C/
STOCK A/C
2. BANK A/C ----DR
TO INSURANCE CLAIM A/C
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