What are Credit Accounts?
by Mathew Sakala
(Harare, Zimbabwe)
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Q: What are credit accounts and could you show me a sample?
A: Credit accounts are any accounts that normally occur on the right side, as credit means right side.
Examples of credit accounts:
- Capital (owner's equity)
- Bank loan (liability)
- Creditors (liability)
- Bank overdraft (liability - you owe the bank)
See the lesson on T-accounts for more information.
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