Question
Exercise 3 Prepare Journal entries for the following transactions of East & West Insurance Company in May 2015. May 1 , collected JD 20 000
Exercise 3
Prepare Journal entries for the following transactions of East & West Insurance Company in May 2015.
May 1, collected JD 20 000 premiums for medical insurance and JD 10 000 for auto insurance.
May 3, agreed with Madaba Insurance to cede 30% of the medical insurance policies of May 1.
May 5, received JD 5000 for premiums for auto insurance premiums ceded from Safedrive insurance.
please answer note number 3 ( may 5 , received Jd 5000 for premiums ...... )
Exercise 3
Prepare Journal entries for the following transactions of East & West Insurance Company in May 2015.
May 1, collected JD 20 000 premiums for medical insurance and JD 10 000 for auto insurance.
May 3, agreed with Madaba Insurance to cede 30% of the medical insurance policies of May 1.
May 5, received JD 5000 for premiums for auto insurance premiums ceded from Safedrive insurance.
please answer note number 3 ( may 5 , received Jd 5000 for premiums ...... )
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Entrepreneurship
Authors: Andrew Zacharakis, William D Bygrave
5th Edition
1119563097, 9781119563099
