Hello,
We renewed our Workers Compensation Policy for 2020-2021 year. The total amount due to insurance company is $15,000. However, we are receiving a financing from a third party company for that amount with the monthly payment of $2,000 each month and with the annual percent rate; also, we are obligated to pay a downpayment. Could you please help me with the booking, do I books as a pre paid insurance expense or as a loan?
Thank you,
