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Recording of Transactions - 1 — Account STD 11 Commerce — Question

CBSE BoardEnglish MediumSTD 11 CommerceAccountRecording of Transactions - 11 Mark
Question
Rent is paid by cheque. Which account will be credited and why?
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Answer

Bank will be credited. Reason is that Bank is a Personal Account and the rule applicable is ‘Credit the Giver'. Bank is the Given on behalf of the firm.

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