Rules of debit and credit

25/05/2018 1 0

Personal account: Debit the receiver and credit the giver
Real account: Debit what comes in and credit what goes out
Nominal account: Debit all expenses & losses and credit all incomes & gains

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Rules of debit and credit 1. Personal accounts : Debit the receiver & Credit the giver (supplier)2. Real accounts : Debit what comes in & Credit what goes out3. Nominal accounts : Debit expenses and losses & Credit incomes and gains

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