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debit is the receiver,credit is the giver
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∙ 11y ago
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What society had a debit and credit card system?
Post industrial
What is the meaning of post debit in banking sector?
In banking, a post debit decreases your balance (as opposed to a credit which increases your balance until the funds are later withdrawn). A post debit is similar to writing a check on your account.
Can you use credit card to pay postage at post office?
Yes, pretty much all post offices accept credit/debit cards.
Is prepaid insurance a debit or credit?
Debit
What would you do if the credit amount is greater than the debit amount in the trial balance?
You would post the surplus credit into the 'Unassigned credit' entry.
What is the treatment of post dated checks to bank reconciliation?
debit to cash and credit to accounts receivables
How do you journalize and post Lonnie depositing 100 dollars in a checking account in the name of Lonnie' s Mowing?
Where did the cash come from? If it was from a customer: Debit Cash and Credit Sales. If it was from Lonnie, Debit Cash and Credit Loan Payable. If it was from an outstanding invoice, Debit Cash and Credit Accounts Receivable.
Can you buy a money order with a debit card at the post office?
yes debit is just like cash, they won't let you select the credit button
Does cash on hand have a debit or credit balance?
credit
Is a refund to a credit card a debit or credit?
Debit
Is cost of sale credit or debit?
Credit or debit
What are the rules of debit and credit for assets?
There are three rules for recording transactions: Personal account Debit the receiver. Credit the giver. Real account Debit what comes in. Credit what goes out. Nominal account Debit all expenses.There are three Golden Rules for Debit & Credit, whole accounting is depend on these three rules :- 1. Debit what comes in & Credit what goes out. 2. Debit the receiver & Credit the..Because to make the things debit on debit side and credit on credit side, for that purpose its important to memorize the debit and credit rule.
