AshikaKnowledge Contributor
What is the two rule to follow when changing record in liabilities and capital change/Revenue(Losses)?
What is the two rule to follow when changing record in liabilities and capital change/Revenue(Losses)?
The two rules to follow when changing record in liabilities and capital change/Revenue(Losses) are.
A rise in the liabilities is credited and the drop in liabilities is debited.
A rise in the capital is credited and the drop in the capital is debited.