Question

Life insurance premium paid rs11​

Answer 1

Answer:

Drawings a/c dr 11

________To cash a/c 11

(being personal life insurance premium paid )

hope it helps ..

Answer 2

Answer:

Drawings a/c dr

To cash /bank a/c

(Being insurance premium paid and amount drawn from business)

Explanation:

In case of life insurance premium ,drawing a/c is debited as life insurance is for protection of life .

But in case only insurance premium is given then insurance premium account is debited as it is for the protection ofbusiness assets.

HOPE IT HELPS YOU.

MARK IT AS THE BRAINLIEST PLEASE.