Accountancy, asked by anupam71, 11 months ago

Cheque given for insurance premium

Answers

Answered by yugrajsahi

8

Answer: PLZ MARK it as BRAINLIST ⬇️⬇️⬇️⬇️⬇️

Insurance premium A/C Dr.

To Bank A/C

(Cheque given for insurance premium)

Explanation: premium is an expense so it is debited because of the rule debit all the losses and expenses.

Bank balance is decreasing so it is credited.

Hope it helps you.

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