Page 49 - F3 -FA Integrated Workbook STUDENT 2018-19

Double-entry bookkeeping

5.2 Debits and credits

Summary of steps to record a transaction

Identify the ledger accounts that are
affected

Consider whether they are being
increased or decreased

Decide whether each account should
be debited or credited

Check that both debit entries and
credit entries have been made and that

they are both for the same amount

Note that there may be more than one debit/credit entry required to
record a transaction.

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