31 May 2017
if a company is having car as assets and if one car gets insurance claim for repairs from insurance company what are the journal entries for adjusting that insurance claim amount met by insurance company
Expert :
Anonymous
Expert :
Anonymous
(Expert)
31 May 2017
For actually expenses
Expenses
To Bank
For claim provisioning
Provision for Insurance
To Insurance Claim
For claim receipt
Bank
To Provision for Insurance
Expert :
Anonymous
Expert :
Anonymous
(Expert)
31 May 2017
For actually expenses
Expenses
To Bank
For claim provisioning
Provision for Insurance
To Insurance Claim
For claim receipt
Bank
To Provision for Insurance