When goods are sold for cash, the personal a/c of the buyer is debited.
State whether the following statement are ‘True or False’ with reason :
When goods are sold for cash, the personal a/c of the buyer is debited.
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This statement is False.
In a cash transaction, there is no Personal A/c. The personal account comes in a credit transaction. So when goods are sold for cash, the cash account is debited. A cash account is a real account and as per rule debit what comes in.
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