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Insurance premium

This query is : Resolved 
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(Querist)
11 April 2014 what is entry in book of account for the insurance premium paid Rs 8700 ( Rs 7948 + 742 service tax )for the period 14 april 2014 to 15 april 2015?
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Vishnu Saboo

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Vishnu Saboo (Expert)
18 April 2014 Prepaid insurance expenses Dr
Service tax Dr
To party.

and at the end of each month put an entry
Insurance exp dr
To prepaid
(for the days in month i.e. 17 days in April, 31 days in May.......)
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