Question
The bookkeeper advised you that $7,392 paid to InsuranceCo on 19th July 2019 for business insurance was for the 12 months to the end of
The bookkeeper advised you that $7,392 paid to InsuranceCo on 19th July 2019 for business insurance was for the 12 months to the end of June 2020.
You are required to show a manual journal entry to adjust the insurance expenses claimed for the month of July 2019 and the remainder to Prepayments.
***
- First line: Prepayments
- Second Line: Insurance
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Entrepreneurial Finance
Authors: J. Chris Leach, Ronald W. Melicher
6th edition
1305968352, 978-1337635653, 978-1305968356
