Golden Roles of Accounting:
1) Personal Account:
Debit the receiver
Credit the giver
2) Real account:
Debit what comes in
Credit what goes out
3) Nominal account:
Debit all expenses and losses
Credit all gains and income
Àkash Salve
Apr 14th, 2019
Real Account-Credit what comes into the business and debit what goes out from the business
Nominal Account-Credit Income and gains and Debit Expenses and losses
Personal Account-Credit to giver and debit to receiver
