Question
An initial post must be posted by Friday. Please respond to the following questions: According to our rules of debits and credits, an increase to
An initial post must be posted by Friday. Please respond to the following questions:
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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Managerial Accounting
Authors: John J. Wild, Ken W. Shaw
2010 Edition
9789813155497, 73379581, 9813155493, 978-0073379586
