
					Mastering Debits and Credits
				
 
				
				
				Understand how debits and credits are related to the accounting  equation. Learn the basic process of posting transactions to the general  journal and understand the benefits of having a general journal. To  help you along at school we have included an extensive list of more than  100 possible account names that a business entity can have in their  general ledger.  We have indicated what category each account comes  under (asset, liability or equity) as well as if debiting or crediting  the account will increase the balance. What we would like our users to  take away from this is that there is no one particular name an account  can have. An account can have many different names, which are  essentially the same account. This is available for download in a  separate file. You should print this out and refer to it whenever  needed
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