Received from Aviva Life insurance for proprietor
This query is : Resolved
12 January 2023
Amount received from Aviva life insurance , how to entry in my books of accounts.
can I Pass journal entry of Bank receipt
Suppose Rs. 1,50,000/-
Bank A/c Dr.
To LIC Premium/ Investment A/c
to Interest on LIC/LIC premium A/c
can I Pass journal entry of Bank receipt
Suppose Rs. 1,50,000/-
Bank A/c Dr.
To LIC Premium/ Investment A/c
to Interest on LIC/LIC premium A/c
12 January 2023
Credit the capital account.
13 January 2023
Yes, as it's personal insurance.
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