What is the journal entry for -paid life insurance of the proprietor?

When life insurance premium of the proprietor is paid by the business, it is treated as a personal expense, not a business expense.

Journal Entry

Proprietor’s Capital A/c Dr

  To Cash / Bank A/c

Explanation:

Life insurance of the proprietor is a personal expense.

It is debited to Capital Account, not to Profit & Loss Account.

Cash/Bank is credited because payment is see more ln.run/s_U4k