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Debits and credits

learning the rules for debits and credits

QuestionAnswer
An increase in expenses is recorded as a debit
a decrease in expenses is recorded as credit
an increase in liabilities is recorded as a credit
a decrease in liabilities is recorded as a debit
an increase in assets is recorded as a debit
a decrease in assets is recorded as a credit
an increase in capital is recorded as a credit
a decrease in capital is recorded as a debit
Created by: rdamato228
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