Which of the following is true about T accounts? Please explain with full explanation. a. The left side of a T account is called the debit side. b. The left side of a T account is called the credit side. c. The right side of a T account is called the debit side. d. Transactions are first recorded in T accounts and then posted to the journal.
Which of the following is true about T accounts? Please explain with full explanation. a. The left side of a T account is called the debit side. b. The left side of a T account is called the credit side. c. The right side of a T account is called the debit side. d. Transactions are first recorded in T accounts and then posted to the journal.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Which of the following is true about T accounts? Please explain with full explanation.
a. The left side of a T account is called the debit side.
b. The left side of a T account is called the credit side.
c. The right side of a T account is called the debit side.
d. Transactions are first recorded in T accounts and then posted to the journal.
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