Each part of a business transaction is recorded in the accounting equation under a specifi
Each part of a business transaction is recorded in the accounting equation under a specific account.
89) Revenue has a normal credit balance, and increases are recorded on the credit side.
90) When cash is increased, the Cash account is debited.
91) A credit means the right-side of an account and a decrease for all accounts.
92) A debit means the left-hand side of an account and an increase for all accounts.
93) Accounts Payable indicates amounts owed to us by our suppliers