Question

goods worth rupees 50,000 were destroyed by fire insurance company admitted and paid claim rupees 30,000 only. jourlise

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Answer 1

Answer:

1. loss of goods a/c. ...dr. 50000

to purchases a/c. 50000

2.insurance company a/c dr. 50000

to loss of goods a/c. 50000

3. cash a/c. dr. 30000

loss of goods dr. 20000

to insurance company a/c 50000