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what is meant by debit and credit
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Answer Posted / anagha r datar
As per Accounting Principles,
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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