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-   -   Journal entries for insurance companies when they collect a one year policy (https://www.askmehelpdesk.com/showthread.php?t=652176)

  • Apr 18, 2012, 04:12 PM
    Moxy39C
    Journal entries for insurance companies when they collect a one year policy
    What is the journal entry that would occur when an insurance company collects $1,200 for a one year policy?
  • Apr 18, 2012, 05:45 PM
    pready
    Debit Cash for the amount received
    Credit Unearned Revenue for the amount received

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