in the year 2012-13 my prepaid insurance is 2500/- mention in b/s out of 5000/-
paid in next year
in next year full amt of 5000/- paid by cheque
nw my question is i want to make prepaid insurance amount nil in next year 2500/-
what entry shoud i pass for that
prepaid means you allready paid amount in last year
how to pay next year this amount
your question is not cleared
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