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Home Q & A Board Other Fields Homework Help Business Accounting
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goji.go goji.go
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Posts: 5977
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9 years ago
Prepare journal entries to record the following transactions regarding a fire insurance policy purchased by Chang Electronics. Chang's business operates on a calendar-year basis.
      a.   April 1, 2013 - Chang arranges to buy fire insurance. He receives a bill for $10,000 for an insurance policy that covers the period April 1, 2013 through March 31, 2014.
      b.   April 10 - Chang pays the insurance bill.
      c.   December 31- Chang prepares financial statements for the year ended. December 31, 2013. He prepares an adjusting entry regarding insurance.
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Diesel
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Answer accepted by topic starter
f_zah1f_zah1
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9 years ago
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goji.go Author
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#2
9 years ago
Thanks so much f_zah1.

You were correct Smiling Face with Open Mouth
Diesel
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#3
9 years ago
You're very welcome!
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