The debit and credit system doesn't seem to fit with my personal experience with a checking account.
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Question:
The debit and credit system doesn't seem to fit with my personal experience with a checking account. The system says debit Cash for deposits (increases) and credit Cash for checks (decreases). However, when I make a deposit, the bank says they have credited my account. When I wri a check or use my debit card, the bank says they have debited my account with the decrease.
Is the bank using the same system? How do you explain this?
Related Book For
Integrated Accounting
ISBN: 978-1285462721
8th edition
Authors: Dale A. Klooster, Warren Allen, Glenn Owen
Posted Date: