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difference b/w debit and credit

Answer Posted / abc.dinesh

The most fundamental concepts in accounting. We should
apply the accounting rule to define the term ie.
1.Personal a/c "Debit the Receiver Credit the Giver"
2.Real a/c " Debit what comes in Credit what goes out"
3.Nominal a/c "Debit all Expenses & Losses Credit all
incomes & gains.

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