- This topic has 1 reply, 2 voices, and was last updated 7 years ago by
.
Viewing 2 posts - 1 through 2 (of 2 total)
-
Posts
-
- Topics: 1
- Replies: 0
- ☆
An increase in revenue (eg a sale) or an increase in a liability (eg buying goods on credit) is a credit.
Why an increase in revenue is a credit?
If we make a sale, then we debit either cash or receivables and the double entry is to credit sales to record the income.
You really need to watch my free lectures – they are a complete free course for Paper FA and cover everything needed to be able to pass the exam well. You cannot expect me to type out all of my lectures here 🙂
Viewing 2 posts - 1 through 2 (of 2 total)
- The topic ‘increase in revenue’ is closed to new replies.