Question: Do you know how i would record these two in quickbooks? The following activity occurred during the month of July. Set up or create additional
The following activity occurred during the month of July. Set up or create additional preferences and files when needed and record the following transactions in the appropriate windows. Received a six-month insurance policy renewal from General Insurance Co. for $1,200, paid immediately, Check No. 72. Jen recorded the first six-month policy as Insurance Expense, but you think it is better to record it as Prepaid Insurance on Jul 2 payment, and then adjust it at the end of each month. Received a six-month advertising renewal from Ray Vill Advertising Agency for Jul 2 $900, paid immediately, Check No. 73. Jen also recorded the previous advertising as Advertising Expense, but like the insurance policy, you will record it as Prepaid Advertising on pavment and then adjust it at the end of each month. The following activity occurred during the month of July. Set up or create additional preferences and files when needed and record the following transactions in the appropriate windows. Received a six-month insurance policy renewal from General Insurance Co. for $1,200, paid immediately, Check No. 72. Jen recorded the first six-month policy as Insurance Expense, but you think it is better to record it as Prepaid Insurance on Jul 2 payment, and then adjust it at the end of each month. Received a six-month advertising renewal from Ray Vill Advertising Agency for Jul 2 $900, paid immediately, Check No. 73. Jen also recorded the previous advertising as Advertising Expense, but like the insurance policy, you will record it as Prepaid Advertising on pavment and then adjust it at the end of each month
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