Accounting Basics - StarChapter

Left side = debit Right side = credit. Because the entry forms a ‘T’! How do you increase or decrease an account balance? Asset or Expense Account Debit = increases. Credit = decreases. Liability or Revenue Account Debit = decreases. Credit = increases. Accounting Formulas. ALE. Assets – Liabilities = Equity . REN. Revenue – Expenses ... ................
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