Xacc290 Week1 Dq 5




One of the Basic Principlesof Accounting is that in a “Double Entry” system, Debits = Credits.  In thebalance sheet Assets are increased by debits and Liabilities are increased bycredits.  In the Income Statement (or P/L statement) Income is increased by acredit and Expenses are increased by debits.  What is going to be your trick toremember this throughout the course?  Creativity is encouraged..

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