powell1947
Jun 13, 2012, 07:32 PM
If Account payable has been credited,what is it most likey to do?
pready
Jun 13, 2012, 08:22 PM
Here is a way for you to determine what debits and credits increase or decrease what type of accounts:
Accounts with a normal debit balance;
D - Debits
E - Expenses
A - Assets
D - Dividends
Accounts with a normal credit balance;
C - Credits
U - Unearned Revenues
R - Revenues
L - Liabilities
S - Shareholders Equity/Owners Equity
Accounts with a normal debit balance will be increased by a debit and decreased by a credit. While accounts with a normal credit balance will be increased by a credit and decreased by a debit.