Bank has paid insurance premium as per our standing instruction
Answers
Answered by
6
Answer:
Drawings ac dr
To cash ac
Explanation:
Because bank has paid the owners insurance thats why drawings ac debited
Answered by
11
Answer:
Insurance premium A/c Dr
to Bank A/c
Bank has paid the insurance premium regarding firm with the balance avilable in our bank account as per our instructions.
Even though bank has pais insutance premium thet is expense for the firm only so, it is debited.
As it is paid through our bank account bank is credited.
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