I have received fire insurance claim amount Rs. 1,50,000/- in my OD account which is linked in my bussiness(Partneship firm) and bank account named with 3 persons but this fire insurance claim is from mother business which is seperate as we all 3 are joint in property which is showed in my mother busniess balance sheet.
how can i transfer and under which head pass journal entry show that i can transfer this amount to my mother bank account. she is partner in above firm also.
CAclubindia
