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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

12 January 2023 Credit the capital account.

13 January 2023 sir,
Can I pass the above mentioned way.


13 January 2023 Yes, as it's personal insurance.



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