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Ledger accounts that contain transactions related to individuals or other organizations with whom your business has direct transactions are known as personal accounts. Some examples of personal accounts are customers, vendors, salary accounts of employees, drawings and capital accounts of owners, etc.
A few examples of personal accounts include debtors, creditors, banks, outstanding/prepaid accounts, accounts of credit customers, accounts of goods suppliers, capital, drawings, etc.
A personal account is a bank account for use by an individual for that person's own needs. It is a relative term to differentiate them from those accounts for business or corporate use.
A personal account reveals only what an individual wishes to reveal and usually presents just one side of any story. Any personal account is but one of many stories that could be told about an individual, yet it is an important one that allows us access to a range of voices and perspectives.
Personal Account. Personal Accounts are related to individuals, firms, companies, etc. Example: Debtor, Creditor, Banks, Outstanding account, prepaid accounts, accounts of customers, accounts of goods suppliers, capital, drawings, etc. Here giver and receiver will be individuals, firms, companies, etc.