Question

Mention two rules of journal​

Answer 1

Answer:

Debit the receiver and credit the giver. The rule of debiting the receiver and crediting the giver comes into play with personal accounts. Debit what comes in and credit what goes out. For real accounts, use the second golden rule. Debit expenses and losses, credit income and gains.

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Answer 2

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• The entry must have at least 2 accounts with 1 DEBIT amount and at least 1 CREDIT amount.

• The DEBITS are listed first and then the CREDITS.