Accountancy, asked by vyuvansankar1, 5 months ago

Write the rules of debit and credit under American Approach.​

Answers

Answered by anilahirwar0002
1

Explanation:

Transactions are entered in the books of accounts by applying the following golden rules of accounting: Real account: Debit what comes in and credit what goes out. Personal account: Debit the receiver and credit the giver. Nominal account: Debit all expenses & losses and credit all incomes & gains.

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