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What is the journal entry for insurance premium payment of a
company
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Answer Posted / santosh wagh
if the Insurance paid for next financial year than entry
will pass
Prepaid Exp A/c Dr
To Insurance Exp
| Is This Answer Correct ? | 70 Yes | 21 No |
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paid vendor to RS 15000 and incentives of RS.5000 and deducted Rs.3000 as penalty so finally paid to vendor is Rs.17000. please let me know the journal entry for this.
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