What are the basic accounting rules?
1. Debit all expenses and losses, credit all incomes and gains.
2. Debit the receiver, credit the giver.
3. Debit what comes in, credit what goes out.
Answer
1. Debit all expenses and losses, credit all incomes and gains.
2. Debit the receiver, credit the giver.
3. Debit what comes in, credit what goes out.