What are Credit Accounts?
by Mathew Sakala
(Harare, Zimbabwe)
|
|
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.
Return to Ask a Question About This Lesson!.
© Copyright 2009-2020 Michael Celender. All Rights Reserved.
Click here for Privacy Policy.
