How do I know when an account have a debit or credit balance when doing a trial balance
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How do I know when an account have a debit or credit balance when doing a trial balance
Here is a way to remember what types of accounts have a normal Debit or Credit balance:
D - Debit balance
E - Expenses
A - Assets
D - Dividends (owner withdrawals)
C - Credit balance
U - Unearned Revenues
R - Revenues
L - Liabilities
S - Shareholder's Equity (Owners Capital)
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