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Originally Posted by mstcrow5429
So debits are an increase in amount, and credits are a decrease in amount?
Also curious as to how such illogical terminology came to be.
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mstcrow,
Be careful here! Not ALL transactions are the same.
As you study the basic concepts of accounting you will realise that an increase on the assets side of the accounting equation is a debit, and an increase on the liabilities side is a credit. This is always the case, except for contra accounts which you will learn about at some point.
Best of luck,
Snazzlefrag