The words debit and credit are used in two ways in accounting: ''e.g., to debit an account''

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The words debit and credit are used in two ways in accounting: ''e.g., to debit an account'' and ''a debit balance.'' Explain both usages of the terms debit and credit.

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Cornerstones of Financial and Managerial Accounting

ISBN: 978-0324787351

1st Edition

Authors: Rich Jones, Mowen, Hansen, Heitger

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Question Posted: Jul 23, 2012 02:49 AM

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The words debit and credit are used in two ways in accounting: ''e.g., to debit an account''

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To debit an account means to add an amount to the left side of tha...View the full answer

Cornerstones of Financial and Managerial Accounting

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