how to identify credit and debit in a trial balance
is sales credit or debit
if debit means money in then why is salaries and wages in the debit when it should have been credit
why is purchase in debit???
Ask the Tutor ACCA FA
trial balance
7y ago#1Sales are a credit balance because it is income.
Salaries and wages are debit balances because they are expenses.
Credits are income or liabilities.
Debits are expenses or assets.
I would suggest that you watch my free lectures. All of this is explained in detail in the lectures.
The lectures are a complete free course for Paper FA and cover everything needed to be able to pass the exam well.
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