There are three Golden Rules of Accounting.

1. Personal Account

Debit the Receiver and Credit the Giver

2. Real Account

Debit What Comes in and Credit What Goes out

3. Nominal Account

Debit all Expenses or Loss and Credit all Income Gains or Profit

There are three Golden Rules of Accounting.

1. Personal Account

Debit the Receiver and Credit the Giver

2. Real Account

Debit What Comes in and Credit What Goes out

3. Nominal Account

Debit all Expenses or Loss and Credit all Income Gains or Profit