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?© BrainMass Inc. brainmass.com December 15, 2020, 2:55 pm ad1c9bdddf
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 ...
This discussest the concept of Debits and credits and their impact on the accounting equation