Commission received is credited and cash is debited
credited
All liabilities are credited and assets are debited so increase in liability will be credited and not debited.
Credit
Revenue is income or a credit.
Commission received is credited and cash is debited
credited
credited
credit
All liabilities are credited and assets are debited so increase in liability will be credited and not debited.
Credit
Revenue is income or a credit.
It is a debit and taken out of your account.
deposited money is credited to your concern bank account
It is your checking account , but it is debited, not credited.
prepaid revenue is debited and revenue is credited
1. Cash is debited because business cash is increased and capital is credited because it is the liability of the business towards its owner to return back at the time of dissolution of business.