Question

Journal entry of life insurance premium paid on the life of proprietor's wife rs.12000​

Answer 1

the journal entry will be...

life insurance premium a/c dr 12000 -

to cash a/c - 12000

(being life insurance premium paid on the life of proprietor's wife )

Answer 2

heyaa,,,

journal entry will be :

Drawings a/c Dr 12,000

to Bank a/c 12,000

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