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Morgan Bridgeman
on Oct 16, 2024

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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.
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DB
Donald BoothOct 22, 2024
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