Are accounts receivable credit or debit?

Question

517 viewsDecember 4, 2012Accounting

0

Wray December 2, 2012 0 Comments

I know that the double entry accounting system has credits and debits. I don’t know if I am supposed to debit or credit the accounts receivable though.

1 Answer

score 0 · Answer 1 · 2012-12-02T17:07:46+00:00

The Accounts receivable account is an asset. As with all other assets, the entries are as follows:

Debit means that the accounts receivable increase and credit means that the accounts receivable decrease.