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Answer Posted / aijaz
When business sells/provides goods or services for cash,
Cash A/c has to be debited because cash is coming in. Rule
of Real A/c : Debit what comes in.
When business occurs expenses/losses, it has to be debited.
Rule of Nominal A/c : Debit all expenses & losses.
When business sells/provides goods or services on credit,
the person/firm has to be debited as the person/firm is
receiving goods or services, so the the person/firm is
receiver. Rule of Personal A/c : Debit the receiver.
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