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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

Answer Posted / jitendra

1.machinary a/c dr. 12000
to cash/bank 12000

2.Loss by fire a/c dr.12000
to machinary 12000

3.Insurance claim a/c dr.12000
to machinary 12000

4.cash a/c dr. 13000
to insuarance claim 12000
to other income 1000

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