Is revenue a debit or credit on the income statement? 788 views 0 Hanrahan 0 Comments Is revenue a credit or a debit in the income statement? If an asset is a debit then why revenue is a credit? Shouldn’t revenue be a debit too? 1 Answer ActiveVotedNewestOldest 0 Goodman Posted 0 Comments Remember that the accounting equation is: assets=liabilities+capital The revenue is part of the profit and loss account. When revenue is generated, you credit your revenue and you either debit your cash or you debit the accounts receivable. You are viewing 1 out of 1 answers, click here to view all answers. Register or Login Search for:
