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Unformatted text preview: Debits and Credits
Balance Sheet Income Stmt.
<CR>** <CR.> Assets = Liab. + Equity
Debits DR. <CR> Rev. - Exp. = DR. Credits
Not uncommon for negative equity (debit balance)
With permission and slight modification: Copyright 2004 by Coby Harmon ...
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This note was uploaded on 08/06/2008 for the course ECON 136A taught by Professor Anderson during the Winter '08 term at UCSB.
- Winter '08