Comments on: Learning Accounting: Debit and Credit Basics http://www.vcehelp.com.au/learning-accounting-debit-and-credit-basics-56/ VCE resources for VCE students, parents and teachers. Tue, 01 May 2012 14:50:30 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: kevhttp://www.vcehelp.com.au/learning-accounting-debit-and-credit-basics-56/comment-page-1/#comment-15768 kev Thu, 31 Mar 2011 10:09:02 +0000 http://www.vcehelp.com.au/learning-accounting-debit-and-credit-basics-56/#comment-15768 thanks a lot for that, this switched a light on for me 'For instance, when you put money in the bank, the bank’s liability to you increases, and since liabilities are credits, they are crediting your account (in accounting terms). And when the bank lowers their liability to us (by us taking money out of the bank) the banks are debiting the liability account, from an accounting perspective.' thanks a lot for that, this switched a light on for me

‘For instance, when you put money in the bank, the bank’s liability to you increases, and since liabilities are credits, they are crediting your account (in accounting terms). And when the bank lowers their liability to us (by us taking money out of the bank) the banks are debiting the liability account, from an accounting perspective.’

]]>