Question

On which side the increase in the following accounts will be recorded? Also mention the nature of account:−

1. Furniture	5. Proprietor's Account
2. Rent Paid	6. Debtor
3. Commission Received	7. Creditor
4. Salary Paid

Answer 1

Accounts	Increase Recorded at Side	Nature
1. Furniture	Debit	Asset
2. Rent Paid	Debit	Expense
3. Commission Received	Credit	Income
4. Salary Paid	Debit	Expense
5. Proprietor’s Account	Credit	Capital
6. Debtor	Debit	Asset
7. Creditor	Credit	Liability