Double entry Flashcards by Sam Frost | Brainscape

Q

PEARLS

A

P - Purchases E - Expenses A - Assets

R - Revenue L - Liabilities S - Sales

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Q

DEBITS

A

RECEIPT / RECEIVE / BUSINESS GAINS

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Q

CREDITS

A

PAYMENTS / BUSINESS LOSES

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Q

Money going into the business is a …..

A

DEBIT

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Q

Money going out of the business is a …..

A

CREDIT

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