Tag Archives: Insurance Premiums

What subject should be debited and credited when prepaying property insurance premiums?

prepaid Insurance

When prepaying property insurance premiums, if the amount is not large, the subject of “Administrative Expenses—Insurance Premium” should be debited, and the subject of “Bank Deposit” or “Cash in Inventory” should be credited. When prepaying property insurance premiums, if the amount is relatively large, the subject of “Other receivables—Insurance premium” …

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