How to Do Debits and Credits: Expert Accounting Advice

So you’d have to record the transaction as a $1,000 debit in your cash account and a $1,000 in your bank loan account. These definitions become important when we use the double-entry bookkeeping method. With this approach, you post debits on the left side http://www.psychology-online.net/articles/doc-611.html of a journal and credits on the right. The total …

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