Accountancy, asked by tamanna3071, 9 months ago

Pass the journal for this...
Insurance Premium paid Rs. 2,500. 1/5th amount belongs to next year...

Answers

Answered by sujiritha95

8

Answer:

Journal entry

Insurance premium A/c Dr 2500

To cash A/c 2000

To prepaid insurance A/c 500

(Insurance Premium paid Rs. 2,500, 1/5th paid in advance )

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