Homework Answers
| Answer | |||||
| NOTE- amount of unexpired insurance related to future periods not given in question I assume $4100. You assume as per your according and update the answer | |||||
|
Date |
Particulars | Debit | Credit | ||
| 31-Dec | Insurance expense | $ 5,050 | 8310+840-4100 | ||
| Prepaid insurance | $ 5,050 | ||||
| (To record insurance expense) | |||||
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The prepaid insurance account had a beginning balance of $8,310 and was debited for $840 for...
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