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Rules of Journalizing

Sadiya G.
15/11/2016 0 0

Personal a/c : " Debit the receiver, Credit the giver."

Real a/c : " Debit what comes in, Credit what goes out."

Nominal a/c : " Debit all expenses & losses, Credit all incomes & gains."

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Rules of debit and credit 1. Personal accounts : Debit the receiver & Credit the giver (supplier)2. Real accounts : Debit what comes in & Credit what goes out3. Nominal accounts : Debit expenses and losses & Credit incomes and gains
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