Credit

From LinkedAUB Collab
Jump to navigation Jump to search

Description

An amount entered on the left side of a ledger account. A credit is used to record a decrease in in an asset or an increase in a liability or in equity.

Concept Prerequisite

Wikipedia Reference

http://en.wikipedia.org/wiki/Debits and credits

Learning Material

Covered in Topic(s)

 
The Accounting Cycle: Capturing Economic Events