Journal entry of life insurance premium paid on the life of proprietor's wife rs.12000
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Answered by
22
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 )
kanhaiyaavp:
it will be considered as drawing...
Answered by
15
heyaa,,,
journal entry will be :
Drawings a/c Dr 12,000
to Bank a/c 12,000
_________________________
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