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Sondra has been asking questions about her extended family.In order to understand how all the relationships are interconnected,she needs to be able to use the skill of
Debited
A term used in accounting to indicate a transaction that increases an asset or expense account, or decreases a liability or equity account.
Cash Account
An account that records all transactions involving cash receipts and cash payments.
Debit
A record in accounting that causes assets to grow or liabilities to shrink on a firm's balance sheet.
Account Title
The name given to an account in the general ledger that reflects the type of asset, liability, equity, revenue, or expense it represents.
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