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Answer Posted / akhilesh kumar
Debit & Credit depends upon criteria of principal
1- debit is the receiver & credit is the giver
example. syham goods sold to ram ,
ram is a receiver dr
shyam is a giver cr
2- what come in debit & what goes out credit.
example. goods purchase for cash
purchase of goods (debit)come in
cash ( credit)goes out
3- all expenses & losses are debit & all income &gain are
credit.
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