Can anyone give a good example to help me better understand debit/credit rules for my accounting class?
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GOLDEN RULES OF ACCOUNTING
REAL ACCOUNTS DEBIT WHAT COMES IN
CREDIT WHAT GOES OUT
NOMINAL ACCOUNTS DEBIT ALL EXPENSES AND LOSSES
CREDIT ALL INCOMES AND REVENUES
PERSONAL ACCOUNTS DEBIT THE GIVER
CREDIT THE RECEIVER
DEBIT the receiver . CREDIT the Giver
Debit means the amount deduct from your account and credit means
the amounts credited in your account
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