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⟩ Explain the golden rules of accounting?

Real Account : Debit what comes in

Credit what goes out

Nominal Account : Debit all expenses and losses

Credit all incomes and gains

Personal Account : Debit the giver

Credit the received

Real Account : Debit what comes in

Credit what goes out

Nominal Account : Debit all expenses and losses

Credit all incomes and gains

Personal Account : Debit the Receiver

Credit the giver

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