Debit or Credit?
Cash when recieved
Debit
Gross Profit Rate went from 21% (2022) to 19.6% (2023)
Unfavorable
Current Liability
Accounts Payable (when a liability is incurred)
Credit
Debt Ratio went from 91.2 (2022) to 75.4 (2023)
Favorable
PPE (Property, Plant, Equipment)
Non-current Asset