what is the golden rule of accounting
Debit the reciver, Credit the Giver
Debit all expenses, Credit all incomes
Debit what comes in credit what goes out
Personal a/c- Debit the receiver of benefit, Credit the
giver of benefit.
Real a/c- Debit what comes in, Credit what goes out.
Nominal a/c- Debit all expenses and losses, Credit all
incomes and gains.
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