Bought land of Rs. 300,000 on credit basis.Particular account:Land a/c.Nature
Debit or Credit:??. Applied Rule of Debit and credit:???.
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Land A/C Dr.
To XYZ
Land A/C will be debited. According to Real Account rule, Debit is what comes in and credit is what goes out, so Land is an asset coming in the business.
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Land A/C will be debited. According to Real Account rule, Debit is what comes in and credit is what goes out, so Land is an asset coming in the business.
Explanation:
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