Answer Posted / subhash a.
Types of accounts
1. Personal,
2. Real,
3. Nominal.
Rules of Accounting:
1. Personal Accounts: Debit the receiver; Credit the giver
2. Real Accounts: Debit what comes in; Credit what goes out
3. Nominal Accounts: Debit expenses & losses; Credit incomes
& gains
| Is This Answer Correct ? | 6 Yes | 1 No |
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commisiion recieved journal entry and receipt required
