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-   -   Expired insurance adjusting entry (https://www.askmehelpdesk.com/showthread.php?t=275030)

  • Oct 29, 2008, 01:39 PM
    xoxbam11
    Expired insurance adjusting entry
    What is the adjusting entry for expired insurance?
  • Oct 29, 2008, 02:11 PM
    pready

    The adjusting entry is:

    Debit Insurance Expense for the amount used during the period.
    Credit Prepaid Insurance for the amount used during the period.

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