Question

journal entry for
Paid Life Insurance premium 10,000, Income Tax 9,000 and
for Bicycle for Son 5,000​

Answer 1

Answer:

Drawings a/c Dr. 24,000

To Cash a/c 24,000

(Being life insurance premium and income tax paid, and withdrew for bicycle for son)

Answer 2

Answer:

Explanation:

                                                Journal Entries                                                

Drawings A/c Dr.                      10000

                    To Cash A/c                            10000

Income tax A/c Dr.                   9000

   To Cash A/c                                              9000

Purchase A/c     Dr.                  5000

   To cash A/c                                                5000