Question: 1. What is the difference between debit and credit? How do you determine whether to record it as debit or credit? 2. What is the

1. What is the difference between debit and credit? How do you determine whether to record it as debit or credit?

2. What is the difference between prepaid and deferred?

3. When recording general journal, how do you determine whether it is payable, receivable, cash, expense, etc?

4. Any tips for studying those accounting terms?

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