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College Accounting, Chapters 1-27

23rd Edition
HEINTZ + 1 other
ISBN: 9781337794756

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Chapter
Section
BuyFindarrow_forward

College Accounting, Chapters 1-27

23rd Edition
HEINTZ + 1 other
ISBN: 9781337794756
Textbook Problem

What is the left side of the T account called? the right side?

To determine

Identify the left side and right side of the T account.

Explanation

T-account: The condensed form of a ledger is referred to as T-account. The left-hand side of this account is known as debit, and the right hand side is known as credit.

Example of T-account:

Cash Account
DebitXXX CreditXXX

Debit:

In an accounting term debit refers to the left side of an account...

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