The Golden rule of accounting is to debit the receiver and credit the giver.

• It is a fundamental principle of accounting.

• It is used to record transactions in the correct way.

• It ensures that the account...read more

Personal Account: Debit the Receiver, Credit the Giver

Real Account: Debit - What comes in, Credit - What goes out

Nominal Account: Debit - The expenses, Credit - The incomes