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What is personal Account?

Answer Posted / pradeep gunuguntla

The account which deals with persons are called personal
account.

Eg; pradeep A/c , chandu A/c, sreenivasa & co A/c

Formula : Debit the receiver
credit the giver

Personal accounts are 3 types:

1) Natural personal A/c

2) Artificial personal A/c

3) Representative personal A/c

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