Account balances.doc; debit or credit

Account balances.doc; debit or credit - Liabilities =...

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Bottom line: debit = left; credit = right. Normal balances: Assets (except accumulated depreciation accounts) = debit Contra assets (accumulated depreciation, amortization, depletion) = credit
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Unformatted text preview: Liabilities = credit Owners' Equity (paid in capital) = credit Revenues = credit Expenses = credit Draws (withdrawals by the owners) = debit...
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