{"id":989,"date":"2010-08-16T22:21:56","date_gmt":"2010-08-16T16:51:56","guid":{"rendered":"http:\/\/www.prasadgupte.com\/go\/?p=989"},"modified":"2011-01-28T16:52:35","modified_gmt":"2011-01-28T11:22:35","slug":"effect-credit-debit-on-different-account-types","status":"publish","type":"post","link":"https:\/\/www.prasadgupte.com\/blog\/effect-credit-debit-on-different-account-types\/","title":{"rendered":"Effect created by credits &#038; debits on different account types"},"content":{"rendered":"<p style=\"text-align: justify;\">I&#8217;ve spent quite a bit of time trying to understand how transactions affect accounts. One should remember that the effects of Debit (dr) &amp; Credit (cr) depend on the type of account you are dealing with. For example, receiving money into a bank account, i.e. debiting it, will increase its balance. Whereas, sale of goods, or crediting the sales account, increases its balance. Hope this illustration helps!<\/p>\n<figure style=\"width: 564px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/prasadgupte.files.wordpress.com\/2010\/08\/effects_on_gl_accounts.png\" target=\"_blank\"><img loading=\"lazy\" decoding=\"async\" title=\"Effects on accounts\" src=\"http:\/\/prasadgupte.files.wordpress.com\/2010\/08\/effects_on_gl_accounts.png\" alt=\"Effects on accounts\" width=\"564\" height=\"283\" \/><\/a><figcaption class=\"wp-caption-text\">Effects on accounts<\/figcaption><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>I&#8217;ve spent quite a bit of time trying to understand how transactions affect accounts. One should remember that the effects of Debit (dr) &amp; Credit (cr) depend on the type of account you are dealing with. For example, receiving money into a bank account, i.e. debiting it, will increase its balance. Whereas, sale of goods, &hellip; <a href=\"https:\/\/www.prasadgupte.com\/blog\/effect-credit-debit-on-different-account-types\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">Effect created by credits &#038; debits on different account types<\/span> <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[180],"tags":[531,533,532,527,529,528,534,582,526,530],"class_list":["post-989","post","type-post","status-publish","format-standard","hentry","category-finance-accounting","tag-accounting","tag-asset","tag-book-keeping","tag-equity","tag-expense","tag-income","tag-liability","tag-linkedin","tag-owners-capital","tag-revenue"],"aioseo_notices":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack_likes_enabled":true,"jetpack-related-posts":[],"_links":{"self":[{"href":"https:\/\/www.prasadgupte.com\/blog\/wp-json\/wp\/v2\/posts\/989","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.prasadgupte.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.prasadgupte.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.prasadgupte.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.prasadgupte.com\/blog\/wp-json\/wp\/v2\/comments?post=989"}],"version-history":[{"count":0,"href":"https:\/\/www.prasadgupte.com\/blog\/wp-json\/wp\/v2\/posts\/989\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.prasadgupte.com\/blog\/wp-json\/wp\/v2\/media?parent=989"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.prasadgupte.com\/blog\/wp-json\/wp\/v2\/categories?post=989"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.prasadgupte.com\/blog\/wp-json\/wp\/v2\/tags?post=989"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}