Account receivable is an asset
It is long term fund, commonly known as Capital account.
Loan account is a personal account in nature so increase with debit and decrease with credit.
Current Asset
i think it should be treated as an ""Expense""
Account receivable is an asset
I am not understanding your question, do you mean this? Ok, this is your answer: Nature is not mean, it helps the earth so you do not sufficate like you would to walk into outer space. This is a temporary account, although by all means, I do love to help people.
It is long term fund, commonly known as Capital account.
Loan account is a personal account in nature so increase with debit and decrease with credit.
Current Asset
nature if that is what you mean.
i think it should be treated as an ""Expense""
what does account durration mean when getting a loan
Purchase Account is a Real Account,because it fulfills condition of real account as Debit what comes In and in case of purchase goods come in that's why it's debited..
increase By debiting an account means,specific amount will be deducted for credit to the account for whom it is intended, which is contra entry by nature.
Purchases account is personal account in nature so debit means increase and credit means decrease.
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