Answer Posted / darvesi
General we have 3 types of accounts.
1.Pesonnel account: it deals persons account
Debit: Receiver
Credit: Givever
2.Real accounts: It also calls as properties account
Debit: What comes in
Credit: What goes out.
3.Nominal Accounts: Expenses accounts
Debit; All expenses and losses
Credit:All revenues and incomes.
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