ACC 290 Week 1 DQ 2 / Assignmentcloud.com

Question 1

ACC 290 Week 1 DQ 2

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What are debits and credits? How are debits and credits used to record business transactions? Why do accountants debit asset accounts to increase them but credit liability accounts to increase them? Why do accountants debit expenses to increase them but credit revenues to increase them?

Answer 1

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