Posted: September 7th, 2022
CHAPTER 2 IN FILES!!!!! We’ve learned that accounts are classified as either Ass
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CHAPTER 2 IN FILES!!!!!
We’ve learned that accounts are classified as either Assets, Liabilities, or Equity Accounts. We’ve also learned that transactions increase or decrease those account balances. In Chapter 2 we are learning that the increases and decreases to accounts are achieved with Debits and Credits. What can you do to help you remember the classifications of the accounts (Asset, Liability, Equity)? What can you do to remember whether a specific account is increased or decreased with either a Debit or a Credit?
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