Question

Rules of debit and credit in accounts

Answer 1

rule 1- All accounts that normally contain a debit balance will increase in amount when a debit is added to them (left column )reduced when a credit is added to them( right column ).the typesof accounts of which this rule applies are expenses,assets,& dividends.
rule2- all accounts that normally contain a credit balance will increase in amount when a credit (right column ) is added to them and reduced when debit is added to (left column) . The types of accounts to which this rule applies are liabilitues , revenues & equity.

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