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What else can I help you with?
Is the decrease in revenue a debit?
Default balance for revenue is credit balance so to reduce a revenue account it must be something with debit balance so debit is a decrease in revenue.
What credit means that an account has been increased?
Any credit is an increase to an account. A debit is a decrease to the account.
Will a credit entry to an account increase the balance of a revenue account?
Yes. Since revenue accounts are "credit" accounts, they are increased by credit entries and decreased by "debit" entries.
Are revenue accounts increased by credits?
Revenue accounts have credit balance as a normal balance so credit is the way to increase the revenue account.
Is Revenue accounts increase by credit or debit?
revenue accounts increase by credit
Is the decrease in revenue a debit?
Default balance for revenue is credit balance so to reduce a revenue account it must be something with debit balance so debit is a decrease in revenue.
What credit means that an account has been increased?
Any credit is an increase to an account. A debit is a decrease to the account.
Will a credit entry to an account increase the balance of a revenue account?
Yes. Since revenue accounts are "credit" accounts, they are increased by credit entries and decreased by "debit" entries.
Are revenue accounts increased by credits?
Revenue accounts have credit balance as a normal balance so credit is the way to increase the revenue account.
Is Revenue accounts increase by credit or debit?
revenue accounts increase by credit
Are purchases account is increased by a credit and decreased by a debit?
Purchases account is personal account in nature so debit means increase and credit means decrease.
Returned damaged goods to supplier- what debit and credit account?
When you have returned damaged goods then you will need to credit accounts receivable and debit accounts payable. This will decrease your revenue for the account.
If you debit an account is it decrease or increase?
increase By debiting an account means,specific amount will be deducted for credit to the account for whom it is intended, which is contra entry by nature.
If you received 600 from a client on account where would you post it?
It depends on whether the client owes you money and what basis of accounting you use. If the client owes you money and you use the accrual basis then it posts as an increase (debit) to Cash and a decrease (credit) to accounts receivable. If they are paying in advance for future work then it's an increase (debit) to cash and a increase (credit) to deferred revenue. If you are on cash basis then you increase cash and revenue.
What is the effect on income when service is rendered on credit?
Income from services rendered account will decrease and debtors account will increase
Is Fees earned is decreased is it debited or credited?
The Fees Earned account has a credit balance. This means that you credit the account to increase the balance, and debit the account to decrease the balance.
Is loan account real nominal or personal?
Loan account is a personal account in nature so increase with debit and decrease with credit.
