THREE PARTS OF AN ACCOUNT

THREE PARTS OF AN ACCOUNT - If total debits are greater...

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THREE PARTS OF AN ACCOUNT (1) ACCOUNT TITLE Left Side Right Side called called (2) DEBIT (3) CREDIT Rules for using accounts Accounts are assigned balance sides (Debit or Credit). To increase any account, use the balance side. To decrease any account, use the side opposite the balance. Finding account balances If total debits = total credits, the account balance is zero.
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Unformatted text preview: If total debits are greater than total credits, the account has a debit balance equal to the difference of the two totals. If total credits are greater than total debits, the account has a credit balance equal to the difference of the two totals....
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