Question

Any accounts expert ?

please explain me the following question (5) Both question and answer is in pic.

Question is at the top.​

Answer 1

bank a/c. dr. 60,000

p/L a/c. dr. 40,000

to insurance claim a/c. 1,00,000

we are getting money and the rule says what comes in dr . so bank a/c dr.

we are facing loss of 40000 bcz insurance company has agreed to pay only 60% . and the rule says expenses and losses are debited.. so p/L a/c dr.

and insurance co. wll be credited

Answer 2

Answer:

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Explanation: