Credits, debits, t-accounts
What do you think of when you hear the word debit? What do you think of when you hear the word credit? Why does your bank statement show a credit for an increase in your cash balance? Why are T-accounts such a valuable tool for analyzing accounting transactions?
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Detailed answer to your four posted questions is provided in a separate power point file containing 17 slides. I hope you will appreciate the idea of presenting your solution ...
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This solution provides explanations for debits, credits, and t accounts.
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