When you record business transaction, is it true that the Debits (Dr) always increase the balance of
Fantastic news! We've Found the answer you've been seeking!
Question:
When you record business transaction, is it true that the Debits (Dr) always increase the balance of the account and Credits (Cr)always decrease the balance of an account? Explain briefly with explanation of all credit and debit business transaction.
Expert Answer:
The general rule is that debits Dr increase asset and expense accounts and credits Cr increase liabi... View the full answer
Related Book For 
Fundamental Managerial Accounting Concepts
ISBN: 978-0078110894
6th Edition
Authors: Edmonds, Tsay, olds
Posted Date:
