Question

Cash received from Tilak as rent will be credited to
(1) Cash Account
(2) Rent Account
(3) Tilak's Account
(4) Capital Account​

Answer 1

option number 3 is correct

please mark this answer as a brainliest

Answer 2

Answer:

Cash Account

Cash received from Tilak as rent will be credited to Cash Account.

Explanation:

Rent payments made by Tilak will be credited to the Cash Account.

Nominal accounts are categorized as all spending and income accounts. According to the rules for nominal accounts, all costs and losses should be debited, and all revenues and profits should be credited.

Rent payment to the landlord is an expense that must be credited to the cash account while subtracted from the rent account.

Nominal accounts are categorised as all spending and income accounts. According to the rules for nominal accounts, all costs and losses should be debited, and all revenues and profits should be credited.

• Rent payment to the landlord is an expense that must be credited to the cash account while subtracted from the rent account.
• A business-to-business or business-to-consumer account that is conducted on an instant payment basis, with no credit being granted, is referred to as a cash account.
• In the world of accounting, a "cash account" or "cash book" is a daybook (main entry book) that is used to keep track of all transactions involving cash, particularly cash receipts and payments. Due to its twofold significance in accounting, the cash account is regarded as a special daybook. The principal entry is the cash account.