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  • Mar 15, 2011, 09:41 AM
    ravinder_singh
    Insurance journal entries?
    Paid fire insurance on building by cheque for rs 4000 and life insurance premium by cheque for 1000
  • Mar 15, 2011, 03:17 PM
    pready

    Debit Prepaid Insurance for 5,000
    Credit Cash for 5,000

    Or

    Debit Prepaid Fire Insurance for 4,000
    Debit Prepaid Life Insurance for 1,000
    Credit Cash for 5,000

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