You need a lesson on book-keeping..
here goes it!
Sales are debited DR
Purchases are credited CR
Receipts are credited CR
Payments are debited DR
This is double entry book-keeping..
My fees, well????
I could help you more...
2007-01-23 01:00:11
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answer #1
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answered by Sani 2
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Your question is a bit vague. In double column bookkeeping books, the left column is the debit, and the right-hand column is credit.
Starting with the bank account, receipts of cash is debited to the bank account, and credited to the debtor account. Similarly, sales would then be debited to the debtor (get it?) and credited to the sales account.
On the other cycle, you would credit bank with payments, and debit the creditor account. Similarly, expense purchases would be credited to the creditor (get it?), and the debited to the expense account.
Assets are debits, loans and capital are credits. (You can work it out starting from the bank as well)
Reversals would, well, be the opposite.
2007-01-23 09:15:24
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answer #2
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answered by Piet Strydom 3
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Expense accounts (e.g. Salaries Paid) are always debited - with the contra entry a credit to your Bank Account. Income accounts (e.g. rent received) are always credited.
2007-01-23 09:00:08
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answer #3
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answered by nina h 1
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all accounts are of 4 cateries-
1.Asset 3.Income ---they r Cr entries
2.Liabilities 4.Expense ---they r Dr entries
u've 2 read more from books.
2007-01-23 09:06:07
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answer #4
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answered by noyonk 3
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'It depends' = there are guidelines laid down by law (see link below)
Why not do some of your own research ?
NB. Here's one for you - how is it possible to do an accountancy course before learning English ?
2007-01-23 09:02:52
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answer #5
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answered by Steve B 7
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