Asked by
Morgan Bridgeman
on Oct 16, 2024Verified
The right side of a T-account is a(n) :
A) Debit.
B) Increase.
C) Credit.
D) Decrease.
E) Account balance.
T-account
A graphical representation of a general ledger account that outlines the effects of transactions on account balances.
Debit
An accounting entry that results in either an increase in assets or a decrease in liabilities on a company's balance sheet.
Credit
A financial agreement where a borrower receives something of value now and agrees to repay the lender at a later date, often with interest.
- Understand the concepts of debit and credit in accounting.
Verified Answer
DB
Learning Objectives
- Understand the concepts of debit and credit in accounting.