Accounting for IGCSE & O level - The Fundamentals Of Accounting (Section 25 - No. 4)
What is the general rule about where to record debits and credits?
Assets always have a debit balance.
Liabilities always have a debit balance.
Increases are on the same side, decreases are on the opposite side.
Debits are always to the left and credits are always to the right.
Explanation
An increase in an account typically appears on the same side as its normal balance, and a decrease appears on the opposite side.
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