Answer Posted / t.r.n. sivakumar
Account is a financial record of business transactions in
which maintain according to the principle of double entry.
It also implies that every debit has an equal credit and
every credit has an equal debit. It has two sides in which
classified into debit and credit. On left hand side of the
accont is called as debit side and right hand side of the
account is called as credit side. On debit side of account
use 'To' and credit side of account 'By'.
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