Homework Help: Accounting

Posted by Joyce on Sunday, June 10, 2007 at 9:35pm.

how can you determine what side is a debit and what side is a credit

A debit is an expense that is paid. A credit is income.

The following rules are applied to decide debit or credit side.

1.Debit what comes in and credit what goes out
2.Debit the reciever and credit the giver
3 Debit the expenses, losses and credit incomes and gains

The following rules are applied to decide debit or credit side.

1.Debit what comes in and credit what goes out
2.Debit the reciever and credit the giver
3 Debit the expenses, losses and credit incomes and gains

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