Accounts - Basics of accounting, Golden rules of Accounting

Basics of accounting

Basics of Accounting

REAL ACCOUNTS	DEBIT WHAT COMES IN CREDIT WHAT GOES OUT
PERSONAL ACCOUNTS	DEBIT THE GIVER CREDIT THE RECEIVER
NOMINAL ACCOUNTS	DEBIT ALL EXPENSES AND LOSSES CREDIT ALL INCOMES AND REVENUES

The above is the basic golden rules of accounting.

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