Debits and Credits - List of Transactions
The following list of most commonly used transactions illustrates the debit and credit transactions on the double entry accounting principle:
| Transaction | Debit | Credit |
|---|---|---|
| Capital - cash contribution | Assets - Bank | Capital |
| Sales - cash | Assets - Bank | Income |
| Sales - credit | Assets - Debtors | Income |
| Purchases - cash | Assets - applicable | Assets - Bank |
| Purchases - credit | Assets - applicable | Liabilities - Creditors |
| Expenses - cash | Expenses - applicable | Assets - Bank |
| Expenses - credit | Expenses - applicable | Liabilities - Creditors |
| Debtors - receipts | Assets - Bank | Assets - Debtors |
| Creditors - payments | Liabilities - Creditors | Assets - Bank |
YES
NO
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