Question
In recording transactions: A.Liabilities and revenue are debited for increases B.The word debit means to increase and the word credit means to decrease C.Debits should
In recording transactions:
A.Liabilities and revenue are debited for increases
B.The word debit means to increase and the word credit means to decrease
C.Debits should be done in black and credits in red
D.All of the above are untrue
E.Assets and expenses are debited for decreases
which one is correct? And why?
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Accounting Principles
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
13th edition
978-1-119-4110, 1119411483, 9781119411017, 978-1119411482
