Rules of Debit

& Credit
Includes all
expenses/losses
incomes/gains

All persons with whom

the business deals.

Personal

&

Nominal

Debit the Receiver

Credit the Giver

Debit all expense & losses

Credit all incomes & gains

Real

Debit what comes in

Credit What goes out

Relates to tangible &

intangible things (related
to assets & liabilities)
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