Learn about the difference between debits and credits and their rules in accounting with examples and how they balance each other in double-entry bookkeeping Learn what is debit and credit in accounting, how to record transactions, and the golden rules of debit and credit. See practical examples of debit and credit entries for different accounts and journal entries. In accounting, debits increase assets and decrease liabilities and equity, whereas credits increase liabilities and equity and decrease assets. Understanding the difference between a debit and a... Debits and credits are not additions and subtractions, but entries on the left and right sides of the accounting ledger. Learn the types of accounts, their balances, and how to record debits and credits with examples.
