Answer:
- Debit what comes in, Credit what goes out.
- Debit all expenses and losses, Credit all incomes and gains.
- Debit the receiver, credit the giver.
After you have identified the two or more accounts involved in a business transaction, you must debit at least one account and credit at least one account. To debit an account means to enter an amount on the left side of the account. To credit an account means to enter an amount on the right side of an account.
Hope this helps.
Based on G.
