Accounts Receivable Credit or Debit: A Comprehensive Guide
Emagia
DECEMBER 30, 2024
The Role of Debits and Credits in Accounting In accounting, debits and credits are fundamental concepts used to record transactions. Debits (Dr) and credits (Cr) are entries made in account ledgers to reflect changes in value due to business transactions. Mismanagement can lead to misstated revenues and profits.
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