Assertion: ledger's account | /r/HasProperty | credited
Facets:
Source sentences:
text: Which account will be debited and which account will be credited?
text: Because it is double-entry bookkeeping, each entry affects two accounts (credit and debit), to keep the books in balance.
text: Each journal entry is split between two accounts (the credit and the debit) when entered into the ledger.
text: First, you must know how to decide whether the account should be credited or debited.
text: Similarly, if an account in a journal entry has been credited it will be posted to the ledger account by entering the same amount on the credit side/column of the respective ledger account.
text: The detailed financial transactions are recorded using a double-entry bookkeeping system, meaning that one of the accounts will be debited and another account related to the transaction will be credited.
text: Accounting laws in some countries mean that general ledger accounts should have a zero balance at the close of business since these accounts are pass-through accounts and no debits or credits can permanently impact the balance of the general ledger account.