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General Journal Entries?

  
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General Journal Entries?

Postby caelin » Wed Jun 27, 2012 5:18 pm

I need help preparing the following transaction for my general Journal

Paid Work Cover Policy for workers compensation on employees $1100
(I can see that this would affect the Cash at Bank with a Credit but what would be the debit.)

I just know I'm going to need help with other questions because I'm doing this course on my own at the moment so if someone knows where I can get some help that would be great.
caelin
 
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General Journal Entries?

Postby lazaro94 » Wed Jun 27, 2012 5:21 pm

When you make the payment the DR. would be to insurance expense or prepaid insurance (which you would then reverse when expensed)

Let me know if you have more questions.
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