Double entry | Baamboozle - Baamboozle | The Most Fun Classroom Games!

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To record a decrease in an asset, what entry do we make?

Credit entry

What is a credit entry?

A credit entry is one that is recorded on the right side of an account.

What is the double entry system?

This is a system that enters each transaction twice, once on the debit side and once on the credit side.

To record an increase in capital, what entry do we make?

Credit entry

To record an increase in liability what entry do we make?

Credit Entry

To record a decrease in capital, what entry do we make?

Debit entry

To record a decrease in a liability, what entry do we make?

Debit entry

What is the general principle of Double Entry?

The principle of double entry is for every debit entry there is a corresponding credit entry for each transaction.

what is meant by debit entry ?

A debit entry is one that is recorded on the left side of an account.

To record an increase in an asset what entry should we make?

Debit entry