

InterviewSolution
Saved Bookmarks
1. |
What is credit and debit?? |
Answer» \tA\xa0debit\xa0is an\xa0accounting entry\xa0that either increases an\xa0asset or\xa0expense account. Or decreases a\xa0liability or\xa0equity\xa0account. It is positioned on the left in an accounting entry.\tA\xa0credit\xa0is an accounting entry that increases either a\xa0liability\xa0or equity account. Or decreases an asset or expense account. It is positioned on the right in an accounting entry.<br>??<br>Credit is the right side of an account. Debit is the left side of an account | |