TRADING ACCOUNT, Accounting Basics

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WHO PREPARES A TRADING ACCOUNT AND WHY?

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Credit & debit, difference between credit and debit

difference between credit and debit

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Credit -- an accounting entry on the bottom or right of a balance sheet. Generally an increase inliabilities or capital or a reduction in assets. Opposite of credit is debit. Every

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Steps in recording business transactions Look at Exhibit 5 to observe the steps in recording and posting the effects of a business transaction. Note that a source document offe

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