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Explain "debit what comes in credit what goes out"

Answer Posted / pramod yadav

This is the one of the Accounting rull of Golden rules of
Accouting

Real Account is nothing but " Debit what comes in Credit
what goes Out.

For exp: Land purchased

Entry: Vehicle A/c Dr
To Cash A/c Cr
in this exp debit comes in means Vehicle will come our company
Credit what goes out means Cash will go out of the company

Is This Answer Correct ?    7 Yes 1 No



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