Debits and Credits affect the accounting equation
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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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 ...
Solution Summary
This discussest the concept of Debits and credits and their impact on the accounting equation
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