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-   -   How do you post a expired insurance in a trial balance (https://www.askmehelpdesk.com/showthread.php?t=480789)

  • Jun 18, 2010, 11:12 AM
    shayles
    How do you post a expired insurance in a trial balance
    Expired insurance 123
  • Jun 18, 2010, 11:13 AM
    shayles

    How do you post a expired insurance in a trial balance
  • Jun 21, 2010, 07:08 AM
    pready

    Are you talking about Prepaid insurance.

    The journal entry is: Debit Insurance Expense for the amount and Credit Prepaid Insurance for the amount

    This entry is also known as an Adjusting Entry and is done after the Trial Balance.

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