Kya interest accounts hote hai
Jaise rent A/c, bank A/c, sales A/c
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Yes , interest ac can be... But it can be interest received ac And interest paid ac, as per condition
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Yes the interest account can be.
But it can be interest received account and interest paid account as per condition.
In case of real account, what comes in is debited and what goes out is credited.
In case of personal account, debit the receiver and credit the giver.
In case of nominal account all expenses and losses are debited and all incomes and gains are credited.
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