accounting treatment for stock insurance and loss

ashok (MANAGER FINANCE) (52 Points)

20 July 2011  

Hi,

Please let me know the accounting entires for mentioned query:

We have lost the stock worth of Rs. 34820/- in transit and we have the insurance facility but we have received 76% of amount and there is loss.

 

please let me know the accounting entries for this transactions.

 

Thanking you in advance.