On December 17 On your Mark paid $1,500 to Keystone Insurance company for the premium of on a six month insurance policy, Check 1001.

I got the Account name which is Keystone Insurance Company but then I don't know what the $1500 goes in there is General Debit / Credit, Accounts Payable Debit, Purchases Discount Credit, Cash in bank credit.

Then the other one I don't get is

On December 24 On your mark paid $2,254 to Pro Runner wearhouse for merchandise purchased on account, $2,300 less a discont of $46, check 1003.

First of all you actually paid a bill, so you should know that cash has been reduced, this means you credit cash

Secondly, it sounds as though you paid the insurance bill ahead of time so you have pre-paid asset, which you will have to adjust every month until the insurance has been used.

Look at tis entry: Dr. Prepaid Insurance 1.500
Cr. Cash 1,500
Make your comments if necessary.

Now six months of 1,500 is 250 a month. 1500/6 = 250

So I think the first expired month it should go like this:
Dr. Insurance expense
Cr. Prepaid Insurance expense

See if that works for you

Now Accouts payable would not be correct as it address services/products you provide to a customer.
Puchase discounts refers to products or inventory you may have purchased from a company, and they will give you a discount if you pay their bill early.

Are you with me so far?

Have to run will be back