Economy, asked by shujughayal11100, 1 month ago

is that person receiver or giver in the transaction & accordingly debit or credit the person account.?​

Answers

Answered by tejassubhashjagdale
2

Explanation:

The golden rule for personal accounts is: debit the receiver and credit the giver. In this example, the receiver is an employee and the giver will be the business. Hence, in the journal entry, the Employee's Salary account will be debited and the Cash / Bank account will be credited.

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