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Purchases account is personal account in nature and basic rule for personal account is debt what comes in and credit what goes out so purchases is a debit balance as a default balance.
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Is prepaid insurance a debit or credit?
Debit
Is cost of sale credit or debit?
Credit or debit
What are the rules of debit and credit for assets?
There are three rules for recording transactions: Personal account Debit the receiver. Credit the giver. Real account Debit what comes in. Credit what goes out. Nominal account Debit all expenses.There are three Golden Rules for Debit & Credit, whole accounting is depend on these three rules :- 1. Debit what comes in & Credit what goes out. 2. Debit the receiver & Credit the..Because to make the things debit on debit side and credit on credit side, for that purpose its important to memorize the debit and credit rule.
Why is it important to memorize the debit and credit rules?
Because to make the things debit on debit side and credit on credit side, for that purpose its important to memorize the debit and credit rule.
Is drawing debit or credit?
its debit.
Is prepaid insurance a debit or credit?
Debit
Does cash on hand have a debit or credit balance?
credit
Is a refund to a credit card a debit or credit?
Debit
Is cost of sale credit or debit?
Credit or debit
What are the rules of debit and credit for assets?
There are three rules for recording transactions: Personal account Debit the receiver. Credit the giver. Real account Debit what comes in. Credit what goes out. Nominal account Debit all expenses.There are three Golden Rules for Debit & Credit, whole accounting is depend on these three rules :- 1. Debit what comes in & Credit what goes out. 2. Debit the receiver & Credit the..Because to make the things debit on debit side and credit on credit side, for that purpose its important to memorize the debit and credit rule.
Why is it important to memorize the debit and credit rules?
Because to make the things debit on debit side and credit on credit side, for that purpose its important to memorize the debit and credit rule.
Is drawing debit or credit?
its debit.
How do you post a debit or a credit?
debit is the receiver,credit is the giver
how can i paywe do not have credit or debit cart?
how can i pay?we do not have credit or debit cart
Bank overdraft is in debit or credit side?
credit side
Is bank loan credit or debit in trial balance?
credit
Is cash is an debit or credit?
debit
