A credit entry
A) increases asset and expense accounts, or decreases liability, equity, and revenue accounts
B) Is recorded on the left side of a T-account
C) Decreases asset and expense accounts, or increases liability, equity, and revenue account
D) Decreases asset, expense and revenue accounts.
E) Increases the withdrawals account

Question

Quizplus · Accepted Answer

Credit entries decrease asset and expense accounts or increase liability, equity, and revenue accounts, aligning with the principles of double-entry bookkeeping.

A Credit Entry