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What is the golden rule of accounts receivable? Buffalo
- Location: Usa, Buffalo, New York, United States
The golden rule for personal Accounting Services in Buffalo is debit the receiver, credit the giver. The golden rules of accounting should be applied according to the type of account—personal, real, or nominal. Personal Accounts: Debit the receiver and credit the giver. Real Accounts: Debit what comes in and credit what goes out. The phrase "the golden rule of accounts receivable" generally refers to one of the Three Golden Rules of Accounting—specifically the rule for Personal Accounts, as Accounts Receivable tracks balances with customers.
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