Examples of Personal Accounts
There are multiple personal accounts available. Some of them can be listed as:
1. Customers’ Accounts Receivable (Debtors): These accounts track the amounts owed to the business by its customers for goods or services sold on credit.
2. Suppliers’ Accounts Payable (Creditors): These accounts track the amounts owed by the business to its suppliers for goods or services purchased on credit.
3. Employees’ Accounts: These accounts track the amounts owed to or owed by employees for salaries, wages, bonuses, or other employment-related transactions.
4. Loan Accounts: These accounts track the amounts owed to or owed by the business for loans received or extended, such as bank loans, mortgages, or lines of credit.
5. Capital Accounts: These accounts track the amounts invested by the business owners or shareholders in the business, representing their ownership interests.
6. Partners’ Accounts: These accounts track the amounts invested by individual partners in a partnership, as well as their share of profits or losses.
7. Vendors’ Accounts Receivable: These accounts track the amounts owed to the business by vendors or suppliers for goods or services sold on credit.
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