PERSONALA/C:DEBIT THE RECEIVER CREDIT THE GIVER REAL A/C

Golden rules of accounting

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Answer Posted / sushan t d

PERSONALA/C:DEBIT THE RECEIVER
CREDIT THE GIVER

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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