Answer Posted / manoj mishra

Loss by Fire A/c --Dr
To Purchase A/C

P&L A/C ----Dr.
To Loss by Fire A/C.

If the goods is insure and claim is received in part.

Cash A/C ----Dr.
To Insurance Com. A/C

Insurance Com. A/C---- Dr.
Loss on Claim A/C ----Dr.
To Loss by Fire A/C

P&L A/C ----Dr.
To Loss by Claim A/C

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