Principles of Debit and Credit 1. Bought office equipment for cash Cash Balance Side = Debit Office Equipment Balance Side = Debit Cash Balance Side = Credit Office Equipment Balance Side = Credit Cash increases Office Equipment Increases Cash decreases Office Equipment Decreases Debit Cash Debit Office Equipment Credit Cash Credit Office Equipment 2. Sold office equipment for cash Cash Balance Side = Debit Office Equipment Balance Side = Debit Cash Balance Side = Credit Office Equipment Balance Side = Credit Cash increases Office Equipment Increases Cash decreases Office Equipment Decreases Debit Cash Debit Office Equipment Credit Cash Credit Office Equipment 3. Made partial cash payment on a note payable Cash Balance Side = Debit Note Payable Balance Side = Debit Cash Balance Side = Credit Note Payable Balance Side = Credit Cash increases Note Payable Increases Cash decreases Note Payable Decreases Debit Cash Debit Note Payable Credit Cash Credit Note Payable 4. Received cash from accounts receivable Cash Balance Side = Debit Accounts Receivable Balance Side = Debit Cash Balance Side = Credit Accounts Receivable Balance Side = Credit Cash increases Accounts Receivable Increases Cash decreases Accounts Receivable Decreases Debit Cash Debit Accounts Receivable Credit Cash Credit Accounts Receivable
Principles of Debit and Credit
1. Bought office equipment for cash