Accounting Manager Question:
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Tell us what are the rules for debit and credit for different accounts to increase the amount in your business accounts?

Answer:

The rules for debit and credit for different accounts,

☛ for a capital account, you credit to increase it and debit to decrease it
☛ for an asset account, you debit to increase it and credit to decrease it
☛ for a liability account, you credit to increase it and debit to decrease it
☛ for an expense account, you debit to increase it, and credit to decrease it
☛ for an income account, you credit to increase it and debit to decrease it

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