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Debit vs Credit Cheat Sheet
Pete Zimek, CAE avatar
Written by Pete Zimek, CAE
Updated over a week ago

Modern accounting is based on the "double entry" bookkeeping system where every transaction creates two entries, a debit & a credit.

It's pretty simple to remember that Assets = Liabilities & Owners Equity, but sometimes it's easy to forget how debits and credits affect each.

For a 180 second read, check out Irvine Bookkeeping's blog post on double entry bookkeeping.

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