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Sagot :
With the exception of wage expenses, all of the following accounts employ a credit to indicate an increase.
Credit: What Is It?
Credit can represent many different things in the realm of finance, but it is typically understood as a contract where a borrower receives money or something valuable and agrees to repay the loan later, typically with interest.
Credit worthiness or credit history are also terms that can be used to describe something or someone.
It frequently refers to a bookkeeping item that lowers assets or raises liabilities and equity on a company's balance sheet, according to accountants.
The primary element of credit is a social interaction between a creditor (lender) and a borrower (debtor). Debtor consents to pay back lender, frequently with interest, or risk financial or legal consequences. The practice of extending credit has existed since the dawn of human civilization, thousands of years ago.
To know more about Credit, visit:
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