Debits and Credits
What are Debits and Credits?
Debits and credits are simply the left and right sides of a ledger account. Debit is the left and credit is the right.
Debit and credit rules are based on accounting logic and follow the accounting equation. Because of this logic, once you understand you will be able to work out the journal entries for your transactions.
So learn this concept well and you will understand the foundation of all introductory accounting subjects.
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