BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -Credits always appear on the right side of an accounting ledger. Credits increase a liability, revenue, or equity account and decrease an asset or expense account.

Detailed explanation-2: -A debit records financial information on the left side of each account. A credit records financial information on the right side of an account. One side of each account will increase and the other side will decrease.

Detailed explanation-3: -On the balance sheet, assets usually have a debit balance and are shown on the left side. Liability accounts and owners equity accounts typically have a credit balance and are shown on the right side.

Detailed explanation-4: -Left hand side is called the debit side while the right hand side is called the credit side.

Detailed explanation-5: -Debits are always on the left side of the entry, while credits are always on the right side, and your debits and credits should always equal each other in order for your accounts to remain in balance. In this journal entry, cash is increased (debited) and accounts receivable credited (decreased).