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How debits and credits used to record business transactions

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Reference no: EM132377554

Question: Prior to beginning work on this discussion forum, read Chapter 3: The Accounting Information System and Chapter 4: Accrual Accounting Concepts in your course text.

In your initial post,

• Define debits and credits.

• Explain how debits and credits are used to record business transactions.

• Is it true that debits always increase and credits always decrease? Why or why not?

Reference no: EM132377554

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