Assertion: general ledger's transaction | /r/HasProperty | credit
Facets:
value: namely
type: DEGREE
value: to a liability account
type: TRANSITIVE-OBJECT
Source sentences:
text: If instead of using cash, the firm finances the purchase with a bank loan, the offsetting transaction in the journal entry would be a credit to a liability account.
text: There are two equal and opposite accounts for all the transactions namely credit and debits.
text: If you depleted other assets, such as cash, to come up with the $10,000, or if you added liability in the way of a loan to purchase the system, these transactions are credits.