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What is personal Account?

Answer Posted / rajinder dhawan

Personal Account is related to Double Entry Rules System

i.e Below:

Dr. Who is Receiver

Cr. Who is giver.

Example:

Dhawan purchase the goods from Rajinder of Rs.5000 in 10%
trader discount on credit Sale.

Purchase A/c Dr. 4500 ( What comes in Debit)

To Rajinder Cr. 4500 ( Who is giver)

Is This Answer Correct ?    6 Yes 1 No



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