![]() The equipment is an asset, so you must debit $15,000 to your Fixed Asset account to show an increase. Let’s say you decide to purchase new equipment for your company for $15,000. Now that you know about the difference between debit and credit and the types of accounts they can impact, let’s look at a few debit and credit examples. So, how does this whole “equal but opposite” transaction thing work with debits and credits? Here’s a basic example of how you would record debits and credits as a journal entry: DateĪgain, equal but opposite means if you increase one account, you need to decrease the other account and vice versa. Check out our chart below to see how each account is affected:
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