Question

On june 1, pizza company paid $100 for advertisements to be run on june 1. pizza company's entry to record this payment will include a $100 ______.

Answer 1

On june 1, pizza company paid $100 for advertisements to be run on june 1. pizza company's entry to record this payment will include a $100 Credit to cash and debit to advertising.

   In double-entry accounting, debits and credits are entries made in account ledgers to record value changes brought on by company transactions. Each transaction transfers money from credited accounts to debited accounts. A debit entry in an account reflects a transfer of value to that account, and a credit entry represents a transfer out of that account.

   In order to distinguish between debits and credits, an account book's transfer amounts are typically written in different columns. Alternatively, they can be written in a single column with the suffix "Dr" for debits or just writing them plain, and "Cr" for credits or a minus sign. Despite the minus sign, positive and negative numbers are not directly correlated with debits and credits.

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