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Is a debit required for a decrease in liabilities?
Yes. Liabilities have credit balances, so a debit will reduce a credit balance.
Is prepaid insurance a debit or credit?
Debit
Is a journal entry required on the date the board of directors officially approves a dividend?
Yes following entry required: [Debit] Proposed dividend [Credit] dividend payable
What is the journal entry for receiving a donated asset?
write up the entries required in revaluation account?
Is ATM card debit or credit?
It is a debit card made more specifically for ATM use. In which a PIN is always required and you can not use it as credit. So merchants that only allow credit transaction can not accept ATM cards.
Are credit cards required for a satellite television provider?
Credit cards are not required in order the have satellite television. Other payment methods are allowed. My family pays through debit cards, not credit.
Does cash on hand have a debit or credit balance?
credit
Why debit card have password why not credit card?
Because credit cards rely on the vendor to perform identification of the user. Debit cards, on the other hand, can be used in ATM's, so a PIN is required.
Is cost of sale credit or debit?
Credit or debit
Is a refund to a credit card a debit or credit?
Debit
Is ATM card a credit or debit card?
It is a debit card made more specifically for ATM use. In which a PIN is always required and you can not use it as credit. So merchants that only allow credit transaction can not accept ATM cards.
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.
