Question
According to our rules of debits and credits, an increase to an asset (such as our cash account) is a DEBIT and a decrease to
According to our rules of debits and credits, an increase to an asset (such as our cash account) is a DEBIT and a decrease to an asset is a CREDIT. Why then when we look at our bank statement is a deposit a Credit? and a withdrawal is a debit? Isn't that backwards?
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Auditing Cases An Interactive Learning Approach
Authors: Mark S. Beasley, Frank A. Buckless, Steven M. Glover, Douglas F. Prawitt
3rd Edition
0131494910, 9780131494916
