Question

Paid insurance premium of Sh. Partap Rai by cheque

Answer 1

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Good evening ♡♡♡

Here is ur answer

Drawings A/C Dr.

To Bank A/C

●Actually, we have debited the Drawings account because life insurance premium is not an expense from business. It is a "Drawings " for the business.

●And insurance premium is paid by cheque so bank A/C is credited.

Hope it helps u

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Answer 2

Answer: bank a/c dr.

To insurance a/c

(Being insurance premium paid by

cheque)