What is the left hand side of an account?

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Solution

Ledger is a book of account; in which all types of accounts relating to assets, liabilities, capital, expenses and revenues are maintained. It is a complete set of accounts of a business enterprise.

A ledger account has two sides, namely left hand and right hand side.
Left hand side is called the debit side where the right hand side is called the credit side.

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All ___ are shown on the left hand side i.e. debit side of receipts & payments account.

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