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11 July 2008 what is the debit or credit is it 3 golden rule as we read in jourmal entry or any other thing if any other meaning please tell
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S.Srinivasaraghavan

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S.Srinivasaraghavan (Expert)
12 July 2008 1.Debit the asset account when an asset is received/created.
2. Debit the expenditure when it is incurred.
3. Debit the receiver when he receives any asset.

The Rules for Credit is just the opposite.
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