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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 / nrusingh panda
1.Machinery A/c--------dr Rs.12000.00
Cash A/c-------------cr Rs.12000.00
2.Insurance Prmimum A/cDr Rs.12000.00
Machinery A/c Cr Rs.12000.00
3.Cash A/c Dr Rs.13000.00
Insurance PremimumA/cCr Rs.12000.00
Profit on Assets Cr Rs. 1000.00
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