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Journal entry

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Querist : Anonymous

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Querist : Anonymous (Querist)
31 May 2017 if a company is having car as assets and if one car gets insurance claim for repairs from insurance company what are the journal entries for adjusting that insurance claim amount met by insurance company
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Expert : Anonymous

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Expert : Anonymous (Expert)
31 May 2017 For actually expenses Expenses                          To Bank                                                            For claim provisioning Provision for Insurance      To Insurance Claim                                          For claim receipt Bank                                  To Provision for Insurance
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Expert : Anonymous

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Expert : Anonymous (Expert)
31 May 2017 For actually expenses Expenses To Bank For claim provisioning Provision for Insurance To Insurance Claim For claim receipt Bank To Provision for Insurance
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