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Discount received in advance account is a:

A. Personal B. Real C. Nominal

Accounting Auditing Financial Accounting Bank Accounting managerial accounting
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Question added by Mohammad Ali , Accounts Officer ( Contract) , Bharat Pumps & Compressors Ltd Naini Allahabad
Date Posted: 2014/12/12
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Muhammad Abdullah
by Muhammad Abdullah , Manager Business Analyst and QA , NRSP Microfinance Bank Ltd

Dr............Cash / Bank / Income a/c

Cr............Discount Income

Anil Lalwani
by Anil Lalwani , Chief Accountant , Al Ahli Hospital

It's a personal account, since under personal representative

 

VENKITARAMAN KRISHNA MOORTHY VRINDAVAN
by VENKITARAMAN KRISHNA MOORTHY VRINDAVAN , Project Execution Manager & Accounts Manager , ALI INTERNATIONAL TRADING EST.

Personal account since it being an advance

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