Normal Balances

When looking at an account in the general ledger, the following is the debit or credit balance you would normally find in the account:

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T–accounts, Journal Entries, When Cash Is Debited and Credited

T-accounts Accountants and bookkeepers often use T-accounts as a visual aid to see the effect of a transaction or journal […]

Bank’s Debits and Credits

When you hear your banker say, “I’ll credit your checking account,” it means the transaction will increase your checking account balance. Conversely, if your […]

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