22 October 2010
Journal entries for Insurance claim for the defective parts and claim approved by the insurance company and credited the amount, the same to be transferred to the dealer Account. suggest me the accounting entries to be passed for creating the liability and transfer of loss to the goodwill a/c.
Suggest me the schema of entries. Murali.
As of now no liability created and only cheque received for the claim how to account the receipt and the flow of entries
22 October 2010
First you provide the entries, that was passed initially, otherwise how can we answer, where you have kept the delaer liability, pending insurance claims etc.
CAclubindia
