Asked by
Britney Garcia
on Oct 16, 2024Verified
A debit entry always increases an account.
Debit Entry
An accounting entry that results in either an increase in assets or expenses, or a decrease in liabilities or equity, on a company's balance sheet.
Account
A record in financial accounting that tracks the financial transactions related to a specific asset, liability, equity, revenue, or expense.
- Acquire knowledge on the mechanisms of debits and credits and their repercussions on account balances.
Verified Answer
HA
Learning Objectives
- Acquire knowledge on the mechanisms of debits and credits and their repercussions on account balances.