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how many types of accounts are there
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Answer Posted / sanjay nayak
Answered by Sanjay Nayak 9959620964
1. Personal Account - Debit the receiver and Credit the giver
2. Real Account - Incoming are debit and outgoing are credit
3. Nominal Account - all expenses and losses are debit and
income and gain are credit
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ABC LTD IMPORTED GOODS FROM USA FOR $20000 ON 1/1/11 AT A EXCHANGE RATE OF RS.47.55. THEY MADE A PAYMENT OF $12000 ON 15/1/11 AT A RATE OF RS.45.95. BALANCE PAYMENT WAS MADE ON 25/1/11 AT A RATE OF RS.49.10
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