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3 Cards in this Set
- Front
- Back
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Debit |
Left side - + assets, expenses, & losses - decrease liabilities, equity, & revenues |
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Credit |
Right side - + Liabilities, equity, revenues, & gains - Decrease assets and expenses |
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T-Account |
Lists all of the transactions that affect a particular account and it provides a quick way to see changes made to an account over time. Shows beginning and ending balances (debits and credits made to the account). |
