On which side the increase in the following accounts will be recorded? Also mention the nature of account:
On which side the increase in the following accounts will be recorded? Also mention the nature of account:
1. Furniture
2. Rent Paid
3. Commission Received
4. Salary Paid
5. Proprietor’s Account
6. Debtor
7. Creditor
Anurag Pathak Answered question June 5, 2024
Solution:-
S.N
Account
Nature
Increase
1
Furniture
Asset
Debit
2
Rent Paid
Expenses
Debit
3
Commission Received
Income
Credit
4
Salary Paid
Expenses
Debit
5
Proprietor’s Account
Capital
Credit
6
Debtor
Assets
Debit
7
Creditors
Liability
Credit
Anurag Pathak Answered question June 5, 2024
