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alysonbooker_
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more than 1 year ago
Help me to learn the accounting equation and what debit and credit mean.
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alysonbooker_
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3537701
mind_map
2016-09-13T00:31:28Z
What Is The Accounting Equation?
Assets = Liabilities + Owners Equity and Profit
What is a debit entry?
Debit is an accounting entry which means it would
increase an asset or decrease a liability
What is a credit entry?
Credit is an accounting entry which means it would
increase a liability or decrease an asset
Debit is amount owed to a supplier or company
Credit is an amount received by a customer from a supplier if any goods
have been sent back
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3537701
mind_map
2016-09-13T00:31:28Z
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