Request Description
Week 1-5 DQ3
What are debits and credits? How are debits and credits used to record business transactions? Why do accountants debit asset accounts to increase them but credit liability accounts to increase them? Why do accountants debit expenses to increase them but credit revenues to increase them?
A debit is an asset or increase in cash (left column). Debits normally increase assets and decrease liabilities and credits normally decrease assets and increase liabilities. A credit is a decrease in cash (right column)...
Solution Description
Week 1-5 DQ3
What are debits and credits? How are debits and credits used to record b
