First: Debit what comes in, Credit what goes out. Second: Debit all expenses and losses, Credit all incomes and gains. Third: Debit the receiver, Credit the giver.
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Revenue accounts. A debit decreases the balance and a credit increases the balance. Expense accounts. A debit increases the balance and a credit decreases the balance. Gain accounts. A debit decreases the balance and a credit increases the balance. Loss accounts. A debit increases the balance and a credit decreases the balance.
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