Debenture Allotment Account is a Personal Account.

Explanation:
Debenture Allotment Account is a type of account that is used to record the allotment of debentures to the subscribers. It is a personal account because it represents the individuals or entities to whom the debentures are allotted. Personal accounts are accounts related to individuals, firms, or organizations and record transactions with them.

Personal Account:
A personal account is a type of account that is used to record transactions with individuals, firms, or organizations. It includes accounts of customers, suppliers, creditors, debtors, etc. Personal accounts are classified into three categories: natural persons, artificial persons, and representative persons.

Debenture Allotment Account:
Debenture Allotment Account is opened to record the allotment of debentures to the subscribers. It is credited with the face value of debentures allotted and debited with any discount given on the issue price. The account is closed when all the debentures are allotted and the total amount is transferred to the Debenture Account.

Example:
Let's say a company issues 1,000 debentures of $100 each at a premium of $10 per debenture. The total amount of debentures to be allotted is $110,000. The journal entry to record the allotment of debentures would be as follows:

Debenture Allotment Account Dr. $110,000
To Debenture Account $110,000

In this example, the Debenture Allotment Account is a personal account that represents the subscribers to whom the debentures are allotted.

Conclusion:
Debenture Allotment Account is classified as a personal account because it represents the individuals or entities to whom the debentures are allotted. It is used to record the allotment of debentures and is closed once all the debentures are allotted.