Question

good destroyed by fire 5000 & 50%. Recovered from
Insurance Company journal entry for this??​

Answer 1

Hey here's your answer.

Loss of Stock by fire A|c...dr 5000

To Purchases A|c 5000

Insurance Company A|c....dr 2500

Loss of Stock by fire A|c...dr 2500

To Purchases A|c 5000

I hope this helped you

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