Why do assets like purchases, expenses, vehicles etc posted on the credit side of an account?
2017-07-07 3:48 am
Why do assets like purchases and insurance posted on the credit side of an account when I would have thought they would debited surely?
回答 (3)
2017-07-07 3:54 am
✔ 最佳答案
Pay no attention to what makes sense. Its a simple matter of which side they go on.
2017-07-09 12:53 am
I would have thought that Never, thanks. It's just that I read something in a book that confused me.
2017-07-07 3:54 am
Are you talking about your credit account? Because these would be items you have gotten a loan for or used credit to buy. Purchases and expenses are NOT assets, and neither is a vehicle unless it is paid off. They are all debt.
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