With bookkeeping, debits are values customarily found with assets, cost of sales and expenses. ‘Debits’ is a bookkeeping term and is used in conjunction with credits.

Bookkeeping – Debits and Credits with the Trial Balance (Lesson 16)

Trial Balance

The primary report used by accountants is the trial balance. It is the job of the bookkeeper to make sure that it is in balance and that there are no abnormal values within the respective types of accounts. This lesson sums up the prior 15 lessons and illustrates the trial balance with a condensed version and an expanded version.

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