What will be the journal entry for good lost by fire. How
many entries will be passed in the books of account for the
same.
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Answer Posted / rahul rawat
loss by fire a/c Dr.
TO purchase a/c
insurance co.a/c Dr.
To loss by fire a/c
Banka/c dR.
P&L a/c Dr.
To insurance co.a/c Dr.
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