Give two examples of Representative Personal Accounts.
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Representative Personal Accounts: These are accounts which represent a certain person or a group of persons. For example, if rent is due to the landlord, in Outstanding Rent Account will be opened in the books. The Outstanding Rent Account represents the amount of rent payable to the landlord. Other examples of the Representative Personal Accounts are Prepaid Rent Account, Accrued Commission Account, Unearned Interest Account, etc.
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