Why are the Rules of Debits and Credits Backwards?

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
Creative Commons License This work is licensed under a Creative Commons Attribution 3.0 License.

Last modified: Thursday, March 21, 2024, 10:01 AM