Write the journal entries for the following transaction of Amy's publishing company in September 2020: On...

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Write the journal entries for the following transaction of Amy's publishing company in September 2020: On...

Write the journal entries for the following transaction of Amy's publishing company in September 2020:

On September 20th, Amy's publishing company paid for the next year's insurance premium of $3,000 in cash.

business accounting

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Answer 1

Answer #1

Particulars	Debit	Credit
Prepaid Insurance	$3,000
Cash		$3,000
(Being Insurance Premium paid on sep 20 in advance).

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Answer 2

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