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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 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

Tripti 06-Dec-2019

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