Hi Tutor, i am doing an assignment of Accounting, (Subject- Introductory Financial Accounting, Course- Bachelors of Commerce) and here, i have to pass journal entries for the following Tax Invoice that my firm (MBB Catering Supplies) has received and then fill up the empty Ledger accounts. The Tax invoice relates to an Insurance premium for the whole year and the ledger accounts given to me relating to this are:- Insurance Expense, Prepaid Insurance, Bank, and Accounts Payable- AAMI Business Insurance. The question says you might not need all Ledger Accounts given to you. In this question AAMI Business Insurance has issued me the Tax Invoice. Please help me pass Journal entries for this Tax Invoice. See the attached image
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