No, credits “decrease” as you say the assets(Balance Sheet) and the expenses (Income Statement). However, a credit will increase the liabilities, the capital and the income. Have a look at this post:
The Accounting and Finance Community
ARTICLES
Accounting for Withholding Tax – Definition and Example
Effective Interest Method – Analysis and Example
What is the Purpose of the Statement of Owner’s Equity
Accounting for Sales Tax – Journal Entries
Journal Entry For Interest on Drawings
Accounting for Debt Issuance Costs
Accounting For Convertible Debt – Examples
Monday, August 10, 2020