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Debits and Credits affect the accounting equation

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What are debits and credits? How do debits and credits affect the accounting equation? Are debits always increases? Are credits always decreases? Why or why not?

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Solution Summary

This discussest the concept of Debits and credits and their impact on the accounting equation

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Debit and credit are the rules to record the transactions. Every transaction can be described in its debit/credit form. Following are the rules and regulations
ACCOUNT INCREASED BY DECREASED BY NORMAL BALANCE:
Assets Debits ...

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