One way to remember the above rules is to visualize the two sides of the balance sheet.

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One way to remember the above rules is to visualize the two sides of the balance sheet.

Asset accounts are on the left side of the balance sheet, and they increase on the [left / right] side.

Liability and equity accounts are on the right side of the balance sheet, and they increase on the [left / right] side.

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Essentials Of Accounting

ISBN: 9780273771463

11th International Edition

Authors: Leslie K. Breitner

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