DEBITS:✓ All debits should be recorded on the left side of the ledger sheet
✓ Debits will increase the asset account and decrease the liability or equity account
✓ Debits decrease revenue and increase expenses account
CREDITS:✓ All credits should be recorded on the right side of the ledger account
✓ Credits will decrease the asset account and increase the liability or equity account
✓ Credits increase the revenue and reduce the expenses account
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