Receipt entry
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
29 October 2015
I have invested Rs. 1350000.00 in Bajaj Allianz market link policy. Now I redeemed my policy got Rs. 178342.00.
what is entry???
what is entry???
Amol S Joglekar
(Expert)
29 October 2015
is that really such a big LOSS? or just an error of amount?
Assuming the figures indicated by you are correct, book the loss
Debit Loss on redemption of investment (13,50,000-1,78,342)
Debit Bank 178,342
Credit Investment in Bajaj Allianz market link policy. 13,50,000
Assuming the figures indicated by you are correct, book the loss
Debit Loss on redemption of investment (13,50,000-1,78,342)
Debit Bank 178,342
Credit Investment in Bajaj Allianz market link policy. 13,50,000
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