What is the rule of real personal and nominal account
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Golden Rules of Accounting :
Personal Account Rule Says “Debit the Receiver, Credit the Giver”.
Real Account Rule Says “Debit What Comes in, Credit what goes out”.
Nominal Account Rule Says “Debit all expenses and losses, Credit all incomes and gains”.
Hope this helps!
Personal Account Rule Says “Debit the Receiver, Credit the Giver”.
Real Account Rule Says “Debit What Comes in, Credit what goes out”.
Nominal Account Rule Says “Debit all expenses and losses, Credit all incomes and gains”.
Hope this helps!
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Real
dr. what comes in,
cr. what goes out
nominal
dr the expense
cr.the receipt
personal.
dr the receiver
cr the giver
dr. what comes in,
cr. what goes out
nominal
dr the expense
cr.the receipt
personal.
dr the receiver
cr the giver
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