Which side of the ledger to the following belong:
SALES: CREDITORS: PURCHASES: DEBTORS:
Withdrawal or Deposit?
Please help PJ
- posted
14 years ago
Ledger question.
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- posted
14 years ago
- Vote on answer
- posted
14 years ago
"Peter Jason" wrote
Which ledger are you referring to? Cash ledger? General ledger?
Debit entries are generally going to increase assets and expenses. Credit entries generally increase revenues, debts and equity. And you are aware that assets = liabilities + equity.