General Accounting
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      2. Accounting
      3. General Accounting

      Debits and Credits

      The table below shows how debit and credit entries increase or decrease a chart of account.

      Account Type Increase Balance Decrease Balance
      Banks DEBIT CREDIT
      Assets DEBIT CREDIT
      Liabilities CREDIT DEBIT
      Equity CREDIT DEBIT
      Income CREDIT DEBIT
      Expenses DEBIT CREDIT