Answer Posted / dinesh kumar

1) PERSONAL ACCOUNT
DEBIT THE RECEIVER (S.Creditor, Party)
CREDIT THE GIVER (Cash or Bank)

2) REAL ACCOUNT
DEBIT WHAT COMES IN - (Cash/Cheque, Purchases, Receipts)
CREDIT WHAT GOES OUT - (Payments, Cash/Cheque, Sales)

3) NOMINAL ACCOUNT
DEBIT ALL EXPENSE AND LOSS -(Salary,commission,rent,etc)
CREDIT ALL INCOME AND GAINS - (Interest recieved,
commission received, royalty received, etc)

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