This poster explains the basic difference between Debit and Credit, two essential concepts in accounting used to record financial transactions.
Debit (Dr):
Represents increase in assets or expenses.
Represents decrease in liabilities, capital, or income.
Credit (Cr):
Represents increase in liabilities, capital, or income.
Represents decrease in assets or expenses. key principle
Every accounting transaction affects at least two accounts, where total debit must always equal total credit...
