Overview

personal account


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Quick Reference

1 An account in a ledger that bears the name of an individual or of an organization; it records the state of indebtedness of the named person to the organization keeping the account or vice versa. Personal accounts are normally kept in the sales (or total debtors) ledger and the purchases (or total creditors) ledger.

2 See PA.

Subjects: Financial Institutions and Services.


Reference entries

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