Accounting entry for vehicle repair exp incl insurance claim

This query is : Open

srinivas (Querist)
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21 March 2018 Hi
Can you suggest me how to account the damage vehicle repair exp while insurance claim received by repairer/service centers.
If service center provide invoice to us
Invoice
Repair Charges (Labor service charges) Rs.30000/-
Spare parts cost Rs.20000/-
Total Bills is Rs.50000/-
in this bill service center claimed insurance on our vehicle, then he received claim of Rs. 15000/-
then service center ask to pay Rs 35000/-
how to account in our books

RAJA P M

RAJA P M (Expert)
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21 March 2018 Account the bill of 50k in vehicle maintenance account and 15k from insurance company. Pay 35k to service center... Adjust the 15k from Insurance to Vehicle maintenance account...