Why are the Rules of Debits and Credits Backwards?
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Since many of you may be confused about why the terms for debits and credits are "backwards", this video explains why! It will help you understand why we refer to a return to a store as a credit, and how common financial terms are based on the accounting equation.
Source: Dave Alldredge, https://www.youtube.com/watch?v=IEqkQRp7rXk
This work is licensed under a Creative Commons Attribution 3.0 License.
Last modified: Thursday, 21 March 2024, 10:01 AM