asked 79.4k views
1 vote
Difference between debit the receiver and credit the giver ​

1 Answer

7 votes

Answer:

Step-by-step explanation:

When a payment is made to somebody, you debit the receiver of that payment and credit Cash or Bank as money is paid from cash or by means of cheque. When money or cheques are received, you credit the person who is paying you and you debit the cash or bank.

answered
User Steve Keenan
by
8.4k points
Welcome to Qamnty — a place to ask, share, and grow together. Join our community and get real answers from real people.

Categories