Examples Of Prepaid Insurance Worksheets. Show all entries including the journal entry for prepaid expenses on these dates; Since the cost of coverage is spread over several years, it may create confusion.
At the end of june, your bookkeeper will need to make an adjusting journal entry to reflect that now you only have 11 months of prepaid insurance. On december 1 the company debits insurance expense for $2,400 and credits cash for $2,400. Excel prepaid insurance worksheet.excel details: