WHY INSURANCE IS WRITTEN ON DEBIT SIDE OF TRIAL BALANCE?
Answers
Answered by
5
Insurance are one of expenses to the business.therefore we apply the rule (Debit what comes in and credit what goes out)
NAVGUN:
but i want to clarify here that i thought we will apply the rule (DEBIT ALL EXPENSES AND CREDIT ALL INCOMES AND GAINS) BTW thanks a alot
Similar questions