Accountancy, asked by lamshi1965, 11 months ago

What you mean by 'debited' and 'credited'?

Answers

Answered by akshajain999
6
Debit for assets and expenses means increase in assets and expenses.
Debit for income, capital and liabilities mean decrease in income, capital and liabilities.

Credit for income, capital and liabilities mean increase in income, capital and liabilities.
Credit for assets and expenses means decrease in assets and expenses.
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