Mac Purchased on 15th Jan 12000/-
30th June Machinery damaged due to Fire Accident
31st Dec received the Insurance Premium 13000/-.
Pass the Journal Entry for all the above three
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Answer Posted / kanika
Machinery a/c dr.12000
to cash a/c 12000
loss by fire a/c dr. 12000
to machinery a/c 12000
Cash a/c dr. 13000
to Insurance premium a/c 13000
Ins. claim a/c dr. 12000
to machinery a/c 12000
to profit a/c 1000
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