[monaliz_20]

What is the normal balance of a prepaid insurance, debit or credit?

[tickle]

A credit

[monaliz_20]

a credit

So it isn't considered as an insurance expense?

[tickle]

I have no idea, you didn't say why you were asking this question. Am I supposed to assume it is a journal entry or something like that ?

[Superfly999]

Prepaid insurance is a asset account with a debit balance. When that months (or however long the payments are set for) prepaid insurance is expired, the prepaid account is credited for 1 months rent and the insurance expense account is debited for that amount also.

[jmalysh]

What is the normal balance of a prepaid insurance, debit or credit?

It is a debit because it is an asset to your company

[cristina14]

This is a wonderful opinion. The things mentioned are unanimous and
needs to be appreciated by everyone.
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[jellohello]

Shut up

[powell1947]

Debit cash.

[paraclete]

Obvious some people aren't here to solve their problems

[omone]

Prepaid insurance is a debit balance because it is an asset to u who holds the insurance policy. But it is a liability to the insurance coy which means is a credit balance to d insurance coy because the cash received for the insurance policy have to be provided back to u in future in case of any risk u suffered.