Debit/credit
When an owner withdraws money is it debit or credit
credit cash
what is cash
asset
What is a liability?
Any expenses
Asserts, liabilities, and owners equity can be written in an equation.
True.
The owners claims to the assets of the business
Owners equity.
Money for investing
Capital
whats an invoice
a form describing goods/services
The capital account is an owners equity.
true.
An increase in owners equity from the operation of business.
revenue
what do you debit and credit if you owe money on account
debit accounts payable and credit cash
selling goods or services.
sales.
Accounts receivable is an
asset