Question

Increase in asset is debited and decrease in asset is

Answer 1

Memorize the rule that debits are increases in asset accounts, while credits are decreases in asset accounts. In a general ledger, increases in assets are recorded as debits. Decreases in assets are recorded as credits. Let's say a company buys a large quantity of inventory to gear up for holiday sales.

Answer 2

Answer:

Ello✨❤

A debit is an accounting entry that either increases an asset or expense account, or decreases a liability or equity account.