Question

golden rules of debit and credit for different accounts? ​

Answer 1

Answer:

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

First: Debit what comes in, Credit what goes out.

Second: Debit all expenses and losses, Credit all incomes and gains.

Third: Debit the receiver, Credit the giver.

Answer 2

Answer:

1.In debit rules the person is allowed to pay by his account directly

2.By credit card the person is allowed to pay by the bank and after a month he has to pay money he used