Amount Received From Insurance company against our car insurance matured

Discussion in 'General Accountancy Discussion' started by Shakiba, Jan 10, 2019.

  1. Shakiba

    Shakiba

    Joined:
    Jul 4, 2018
    Messages:
    3
    Likes Received:
    0
    We had a car insured for 5 years. now that it has matured the insurance company has paid some amount. how to treat that amount.
     
    Shakiba, Jan 10, 2019
    #1
    1. Advertisements

  2. Shakiba

    kirby VIP Member

    Joined:
    May 12, 2011
    Messages:
    1,422
    Likes Received:
    197
    Debit Cash
    Credit to the Insurance Expense Account
    For the amount received
     
    kirby, Jan 11, 2019
    #2
    Shakiba likes this.
    1. Advertisements

Ask a Question

Want to reply to this thread or ask your own question?

You'll need to choose a username for the site, which only take a couple of moments (here). After that, you can post your question and our members will help you out.