The journal entry is the accounting entry which lists the goods that are bought on credit.
Debit is seen as Dr in accounting. Credit is Cr. They stand for Debit Record and Credit Record.
Luca Pacoli - Father of Modern Accounting
CRedit
debit
credit
The journal entry is the accounting entry which lists the goods that are bought on credit.
Debit is seen as Dr in accounting. Credit is Cr. They stand for Debit Record and Credit Record.
An increase in liability will affect the credit side of the accounting equation.
What does to complete a credit facility means?" Answer: Credit facility means a facility for an individual or a group to fulfill his house hold, individual, basic, business requirements. Banks & DFIs are currently providing this facility to individual or group, where banks or DFIs provide credit on monthly basis repayment procedure inluding interest & service charges. This facility helps individual or group to fulfill them urgent requirements in a short time of period.
The accounting rules are called the 'golden rules of accounting' ie debit what comes in and credit wht goes out debit the receiver and credit the giver debit all expenses and loss and credit all incomes and gains.
If they have a credit card facility yes
Luca Pacoli - Father of Modern Accounting
debit
CRedit
it ithe credit facility for working capital requirement and the interst is payable on the usge. it ithe credit facility for working capital requirement and the interst is payable on the usge. In cash credit facility you can take out money of fixed amount even you have no cash in your account and you have to pay in within a time limit.
In accounting Dr stands for Debit Cr stands for credit the terms literally mean Debit (left side of the accounting equation) Credit (right side of the accounting equation)