Answer Posted / raghu.v
Golden Rules are 3.
1.Personal Account
2.Real Account
3.Nominal Account.
1.Persona 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 and Losses
Credit:All Income and Gains
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