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ravinder_singh
Mar 15, 2011, 09:41 AM
Paid fire insurance on building by cheque for rs 4000 and life insurance premium by cheque for 1000
pready
Mar 15, 2011, 03:17 PM
Debit Prepaid Insurance for 5,000
Credit Cash for 5,000

Or

Debit Prepaid Fire Insurance for 4,000
Debit Prepaid Life Insurance for 1,000
Credit Cash for 5,000