XACC 280 Week 2 CheckPoint / Debits and Credits

XACC280 Week 2 CheckPoint Debits and Credits

View PhxKlips Debits and Credits on the student website.

Complete the questions and fill in the Account Changes matrix in Appendix B.

In what two ways is the word debit defined in Debits and Credits?

In what two ways is the word credit defined in Debits and Credits?

·        What increases the Asset account, a debit or a credit?

·         What decreases the Asset account, a debit or a credit?

·         What is the normal balance of the Asset account, a debit or a credit?