What are Credit Accounts?

by Mathew Sakala
(Harare, Zimbabwe)


Victoria Falls, 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.

Click here to post comments

Return to Ask a Question About This Lesson!.










© Copyright 2009-2020 Michael Celender. All Rights Reserved. 
Click here for Privacy Policy.