Accounting for IGCSE & O level - The Fundamentals Of Accounting (Section 48 - No. 12)
If the debit side of an account is $5,000 and the credit side is $3,000, what is the balance?
$2,000 debit
$2,000 credit
$8,000 debit
$8,000 credit
Explanation
The debit side exceeds the credit side, indicating a debit balance of $2,000 ($5,000 - $3,000).
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