Nature of transaction | Examples | Increase | Decrease |
Assets | Car, Furniture | Debit | Credit |
Liabilities | Taxes, Bank loans | Credit | Debit |
Expenses | Rent, electricity bill | Debit | Credit |
Income | Sales, interest earned on deposits | Credit | Debit |
Nature of transaction | Examples | Increase | Decrease |
Assets | Car, Furniture | Debit | Credit |
Liabilities | Taxes, Bank loans | Credit | Debit |
Expenses | Rent, electricity bill | Debit | Credit |
Income | Sales, interest earned on deposits | Credit | Debit |