Here is a listed transaction.
Prepaid insurance expired during the year, $7000 (80% related to production of videos, and 20% related to marketing and admnisitrative activities).
Its a Video production business, and im recording transactions into T-Accounts. Im not sure how to deal with expired insurance....im pretty sure i have to credit prepaid insurance $7000, but what do i debit? is the company getting money for something? where is it goiiiiiiing. I have an t account for "videos in progress"...which is like work in progress...i duno if i need to use that...but please help meeee...it also says im allowed to make new t accounts as needed
2007-09-20
06:54:29
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