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Debit And Credit Cheat Sheet. The sum of debits and the sum of credits for each transaction and the total of all transactions are always equal. This is for personal use only.
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It doesn’t mean the same thing as it does to a bank. Credit means to put an entry on the right side of the account. Expense accounts have debit balances.
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1) creating an invoice or sales receipt to a client: Under this system, your entire business is organized into individual accounts. Debits and credits cheat sheet. Highlighted green on liabilities, capital and income, show a decrease.
