Debit Credit

tysonmd1 · #1 Jan 6, 2008, 04:45 AM

In double entry accounting whats a debit and whats a credit?

pready · Jan 6, 2008, 06:26 PM

In a T-Account there is the Left Side and a Right Side of the account. A Transaction of the left side is known as a Debit and a Transaction on the Right Side is known as a Credit.

In Double Entry Accounting the Debits must!!! equal the Credits.



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