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What Is The Accounting Equation?
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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
- Debit is amount owed to a supplier or company
What is a credit entry?
- Credit is an accounting entry which means it would increase a liability or decrease an asset
- Credit is an amount received by a customer from a supplier if any goods have been sent back
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- Description
- Help me to learn the accounting equation and what debit and credit mean.
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- alysonbooker_
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