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-Place point B on the graph to indicate where our economy operated in 1943.
Credits
Entries on the right-hand side of an accounting ledger, indicating increases in liability, equity accounts, and revenue, or a decrease in assets.
Debit Side
The left side of a ledger account that is used to record increases in assets, expenses, and decreases in liabilities, equity, and income.
Asset Accounts
Ledger accounts that record a company's owned resources with economic value expected to provide future benefits.
Compound Entry
An accounting entry that involves more than two accounts, where there are multiple debits, credits, or both.
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