Question

write the rules of debit and credit applicable kinds of account under American system? ​

Answer 1

Answer:

Rules for Debit and Credit

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

Explanation:

personal accounts

debit the receiver credit the giver

real accounts

debit what comes in credit what goes out

nominal accounts

debit all expenses and losses creditors incomes and gain

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