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if insurance claim receivable is not show in the balance sheet
but it received from insurance company
how to treat it
plz
If Insurance Claim Receivable is not shown in Balance Sheet then actual claim received should be charged through Profit & Loss Account.
Accounting Entry
Bank Account Dr. xxxx
To Misc. Income xxxx
(being Insurance claim charged to profit & Loss Account against the loss of asset occurred in past and charged fully to profit & Loss Account)
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