[h.jennings]

Got it! Is it because in a loss account we debit whatever increase the loss and credit what decrease the loss that we switch the entries?

[h.jennings]

Thank you sir, I’ve watched the free lectures and I remember you mentioned we should credit abnormal loss and debit abnormal gain. Does it mean I could just memorize which entry to be credited and which debited at this phase?

[Author]

Posts