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If I give gift to somebody, then how I'll show it in my
account



If I give gift to somebody, then how I'll show it in my account..

Answer / abdulla koya

Debit Gift Account
Credit Cash/Bank Account
(Given gift to Mr./Ms.........)

If the payment is made business cash:
Debit Drawings Account
Credit Cash/Bank Account
(Given gift to Mr./Ms.........)

Note: Never debit the personal account of the person
receiving the gift because it would make him your debtor in
the accounts

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