Question

Explain the rules of Debit and Credit of recording transactions in the books.
please give me the answer fast​

Answer 1

The following are the rules of debit and credit which guide the system of accounts, they are known as the Golden Rules of accountancy:

•Debit what comes in, Credit what goes out.

•Debit all expenses and losses, Credit all income and gains.

•Debit the receiver, Credit the giver.

Answer 2

Answer:

•Debit what comes in, Credit what goes out.

•Debit all expenses and losses, Credit all income and gains.

•Debit the receiver, Credit the giver.

Explanation:

Also Known as Golden rules of accountancy

Hope it helps