Examlex
Which of the following is used in case of a breach of contract that cannot be adequately compensated through a legal remedy?
Debits
Entries in accounting that represent an increase in assets or expenses, or a decrease in liabilities, equity, or income.
Credits
Accounting entries that increase liabilities or equity or decrease assets or expenses.
Journal Entries
The recording of financial transactions into a company's accounting records, documenting the details of financial transactions that affect the financial statements.
Debit Accounts
Accounts that are increased with a debit entry, indicating either an increase in assets or expenses or a decrease in liabilities, equity, or revenue.
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