Answered: The left side of an account is used to…

The left side of an account is used to record which of the following? a. Debit or credit, depending on the type of account b. Increases c. Credits d. Debits

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Concept explainers

Bookkeeping

Bookkeeping is the process of recording the financial transactions of a company on a regular basis. With the process of bookkeeping, companies can track important financial information that helps management in making crucial decisions.

Question

The left side of an account is used to record which of the following?

a. Debit or credit, depending on the type of account

b. Increases

c. Credits

d. Debits

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