Question

what is the journal entry for cheque issued for life insurance premium of proprietor​

Answer 1

Fᴏʀ CHEQUE

Bᴀɴᴋ A/ᴄ Dʀ.

Tᴏ Cᴀsʜ A/ᴄ

Fᴏʀ INSURANCE

Iɴsᴜʀᴀɴᴄᴇ ᴘʀᴇᴍɪᴜᴍ A/ᴄ. Dʀ.

Tᴏ Cᴀsʜ A/ᴄ

NOTE:-

Yᴇ INSURANCE PREMIUM ʜᴜᴍɴᴇ ᴄʀᴇᴅɪᴛ ɪsʟɪʏᴇ ᴋɪʏᴀ ʜᴀɪ ᴋʏᴏᴋɪ ɪᴅʜᴀʀ ʜᴜᴍᴇ Iɴsᴜʀᴀɴᴄᴇ ᴍɪʟ ʀʜᴀ ʜᴀɪ ...