Mookie The Beagle Concierge obtained liability insurance from Phoenix Insurance at a cost of $300 for...
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Mookie The Beagle Concierge obtained liability insurance from Phoenix Insurance at a cost of $300 for 3 months of insurance coverage. The liability insurance protects Mookie The Beagle Concierge from the risk of legal liability for injury or damages of its business operations in providing pet care and pet wellness services. Required: 1. Create an Expense. a. Select (+) New icon > Expense b. Add Vendor Payee: Phoenix Insurance. c. Select Payment Account: 2100 VISA Credit Card d. Select Payment Date: 01/07/2023 e. Select Payment Method: Credit Card f. Select Category: 5010 Insurance: 5012 Liability Insurance Expense g. Enter Amount: 300.00 h. What is the Total Amount paid to Phoenix Insurance? Note: Answer this question in the table shown below. Round your answer to the nearest dollar amount. i. Select Save. Leave the Expense window open. h. Total amount paid 2. View the Transaction Journal for the Expense. a. From the bottom of the Phoenix Insurance Expense, select More > Transaction Journal b. What are the Account and Amount Debited? Note: Answer this question in the table shown below. Round your answer 2 decimal places. c. What are the Account and Amount Credited? Note: Answer this question in the table shown below. Round your answer 2 decimal places. b. Debit c. Credit Account Amount Mookie The Beagle Concierge obtained liability insurance from Phoenix Insurance at a cost of $300 for 3 months of insurance coverage. The liability insurance protects Mookie The Beagle Concierge from the risk of legal liability for injury or damages of its business operations in providing pet care and pet wellness services. Required: 1. Create an Expense. a. Select (+) New icon > Expense b. Add Vendor Payee: Phoenix Insurance. c. Select Payment Account: 2100 VISA Credit Card d. Select Payment Date: 01/07/2023 e. Select Payment Method: Credit Card f. Select Category: 5010 Insurance: 5012 Liability Insurance Expense g. Enter Amount: 300.00 h. What is the Total Amount paid to Phoenix Insurance? Note: Answer this question in the table shown below. Round your answer to the nearest dollar amount. i. Select Save. Leave the Expense window open. h. Total amount paid 2. View the Transaction Journal for the Expense. a. From the bottom of the Phoenix Insurance Expense, select More > Transaction Journal b. What are the Account and Amount Debited? Note: Answer this question in the table shown below. Round your answer 2 decimal places. c. What are the Account and Amount Credited? Note: Answer this question in the table shown below. Round your answer 2 decimal places. b. Debit c. Credit Account Amount
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Answer1 Total amount paid for the liability insurance expense i... View the full answer
Related Book For
Financial Reporting and Analysis
ISBN: 978-0078025679
6th edition
Authors: Flawrence Revsine, Daniel Collins, Bruce, Mittelstaedt, Leon
Posted Date:
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