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insurance claim under WC act

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(Querist)
20 February 2009 how to treat the insurance claim received under workmen's compensation act by a company..??
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Deepak Agrawal

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Deepak Agrawal (Expert)
21 February 2009 The amount is to be given to workmen, its entry wil be:
Bank (asset) ... Dr
To Workmen compensation (Liability)

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