ACCOUNTING DEPARTMENT IN THE NEW YORK OFFICE OF J. WALTER THOMPSON COMPANY
THEORY OF ACCOUNTS
PART II
CLASSES OF ACCOUNTS
39. In double entry bookkeeping, the accounts used may be divided into the two general classes of personal and impersonal. For the purpose of more complete classification, the second class is further subdivided into real, representative, and nominal accounts.
40. Personal Accounts. A personal account is a record of transactions with a particular person or persons.