A bookkeeper debited an asset account for $3,500 and credited a debt account for $2,000. A - Make a $1,500 debit to another asset account.
A debit is a balance-sheet accounting item that results in either a gain in assets or a decrease in liabilities. Credits balance debits in fundamental accounting. if a company takes out a loan to buy equipment, it would debit fixed assets and credit a liabilities account at the same time, depending on the type of the loan. Debit is sometimes abbreviated as "dr," which is short for "debtor." A debit is a financial transaction that results in a drop in liabilities or a rise in assets. Positive balances for assets and expenses are debited on a balance sheet, whereas negative amounts are credited.
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