Discussion Question – Debit/Credit

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Debit/Credit

 

Using your text and at least one scholarly
source, respond to the following:  Transactions typically use the
double-accounting method of recording, specifically debits and credits. 
Explain how debits and credits are posted and the types of accounts that are
impacted by each of these transactions.  In other words, do debits impact
assets and if so, does the debit increase or decrease that account?  Use
this example as you work through the debit and credit discussion question. .