Q no1} which type account is the following either nominal,real,or personal a/c
A}10%debenture a/c
B}Debenture application A/c
C}debenture allotment account
please reply,it is urgent
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10% debenture
Replies (1)
debenture a/c is a personal account (representing money due to debenture holder)
Debenture application and debenture allotment a/c are closed immediately by transferring its amonut to other accounts, debenture account.
these accounts represents debenture account only and are only used to seggregate how much amount is received on application and that of allotment.
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