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Debits, Credits, and Double-Entry Accounting

The T-account

The right side is called the credit side.

The left side of the account is called the debit side

The vertical line divides the account into its left and right sides.

Increases and Decreases in the accounts

Whether an account is increased or decreased by a debit or credit depends on the type of account.

Equation

assets=liabilities+Owner's Equity