Question

20. On which side will you record an increase in rent received a/c and bank loan a/c. Also state the
nature of account on the basis of modern classification of accounts.
(1 Point)
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Answer 1

Answer:

1. Rent received - credit side

nature of account - income

"increase in incomes is credited"

2.bank loan - credit side

nature of account - liability

" increase in liability is credited "