Insurance paid represents Rs 500 relates to next year.
what will be the journal entry..??
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Insurance paid represents rs 500 relates to next year
Replies (5)
Prepaid Expenses A/c...............Dr 500
To Cash/Bank A/c 500
If u have already recorded journal entry earlier as
Insurance A/C...dr
T Cash/ bankA/C
then, u need to pass
Prepaid insurance A/c.....dr
To Insurance A/c
Prepaid Insurance under which group..??
| Originally posted by : neelesh | ||
 |
Prepaid Insurance under which group..?? |
 |
CURRENT ASSETS
| Originally posted by : RUPESH CHOUDHURY | ||
|
Originally posted by : neelesh Prepaid Insurance under which group..?? CURRENT ASSETS |
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Thanks Rupesh..!!
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