Question

question 1 (2 points)
based on the video you watched about debits and credits and your readings, match the correct words to the blank spaces
credit
left
debit
right

1. increases for asset accounts happen on the ______-hand side of a t-account
2. the left - hand side of a t - account is otherwise known as the ______ side
3. increases for liability accounts happen on the ______-hand side of a t - account
4. the right - hand side of a t - account is otherwise known as the ______ side

Explanation:

1. In accounting, asset accounts increase on the left - hand side of a T - account.
2. The left - hand side of a T - account is called the debit side.
3. Liability accounts increase on the right - hand side of a T - account.
4. The right - hand side of a T - account is called the credit side.

Answer:

1. left
2. debit
3. right
4. credit