If the 12000 of amount has been deducted from company bank account against insurance than what will be DR CR

If it's for 12 months of insurance then

DR Prepaid expenses    11,000

DR Insurance expense    1,000

CR Bank Account                     12,000

Then the next month you would 

DR Insurance Expense 1,000

CR Prepaid expenses             1,000

and again and again until the 12 months is up.

I am not accontant ,but attempt to answer this question as follows:-

        You may debit the company account by sum of120000 and same amount ot be credited to insurance (company) account.

 e.g.    bank  account statement - company account

              ------------------------------------------------------------

Item                                                         dr                                      cr

------                                                        -----                                  --------

insurance (company) account          -                                      12000

balance                                              12000                                     -        

-------------------------------------------------------------------------------------------

total                                                     12000                              12000

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