goods purchased from Sham and sons on credit 8,800. Here which is Credit and which is debit, please explain me.
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Explanation:
As a small business owner, you may be struggling with the concept of what is debit (DR) and credit (CR). But, learning the basics of debit and credit is essential for keeping accurate records for your small business.
To have a better understanding of debits and credits, continue reading for more information and examples of each.
Understanding debits and credits in accounting
Business transactions take place regularly. You must record business transactions in your small business accounting books. You will record these transactions in two accounts: a debit and credit account.
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Answer:
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