Answer Posted / p.k. rohira

Personal Account Rule : Dr the Receiver and Cr the Giver
Example : I given Rs. 5000 to Rahul Saxena in cash
Entry : Rahul Saxena A/c Dr with Rs. 5000
and Cash A/c will be Credited by same Amount.

Real Account : Dr what Comes in and Cr what goes out
Example : I purchased a Table for Rs. 800 cash
Entry : Dr Furniture A/c with Rs. 800/- (Tables comes in)
Cr Cash A/c with Rs. 800/- (Cash goes out)

Nominal A/c: Debit all losses/Expenses and Credit Income/Gains
Example : Rahul Saxena didn't give me Rs. 5000/- so
this amount is a bad debt for me.

Entry : Dr Bad Debt with Rs. 5000/-
Cr Rahul with Rs. 5000/-

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