Debits and Credits, Accounting Basics

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When does something that is a debit becomes a credit?

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Desrocher Ltd. issued an instalment note on January 1, 2014 (with a required yield of 9%), in exchange for land that it purchased from Safayeni Ltd. Safayeni's real estate agent

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Perpetual and Periodic inventory                                                                             a)  Describe the difference between the perpetual inventory method

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