Knowledge Is Power

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The News which I read and found interesting

Thursday, October 4, 2007

Debits and Credits of Accounts

Debits and Credits of Accounts

Debit

Credit

Increase in asset accounts

Decrease in asset accounts

Increase in expense accounts

Decrease in expense accounts



Decrease in liability accounts

Increase in liability accounts

Decrease in equity accounts

Increase in equity accounts

Decrease in revenue accounts

Increase in revenue accounts

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