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1) What is mean by debit, credit
2) what is mean by purchase, sales
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Answer Posted / veena
*Dedit is under assets and Credit is under liabilties.
*when the receiver recives the asset or amount and when
expenses are paid and losses are held these types of
entries comes under debit a/c.
*when the giver gives assets or amount and when incomes are
received and profits are held these types of entries commes
under credit a/c.
| Is This Answer Correct ? | 19 Yes | 4 No |
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