Question

What entry will done in cashbook for "paid insurance premium"?

Answer 1

write on the credit side of the cash book as 'insurance premium paid' and amount in cash column if paid in cash or in bank column if paid by cheque.

cash is an real a/c

so dr- what comes in

cr- what goes out

here cash is going out and hence it will come on the credit side...

hope u understand

comment if u have any doubt

follow my brainly a/c for future needs......