What you mean by 'debited' and 'credited'?
Answers
Answered by
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.
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.
Similar questions