Question

rule of debit and credit ​

Answer 1

Answer:

Rules of debit and credit

(1). Asset accounts:. Rule: An increase is recorded on the debit side and a decrease is recorded on the credit side in the bank.

(2). Expense accounts:. Rule: An increase is recorded on the debit side and a decrease is recorded on the credit side of the bank

(3). Liability accounts:. Rule: An increase is recorded on the credit side and a decrease is recorded on the debit side.

(4). Revenue/Income accounts:. Rule

: An increase is recorded on the credit side and a decrease is recorded on the debit.

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Answer 2

Answer

Explanation

Rule of debit and credit :

This is golden rule of accountancy and American rule of accountancy