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Accounting Basics (without debits and credits)

These lessons explore the basics of accounting without debits and credits.

Lesson 3: The Effect of Business Transactions on the Accounting Equation

  • Dr. Charlotte Houke
  • Dec 1, 2013
  • 1 min read

Updated: Apr 6, 2021

Description

Lesson three examines the effect of individual business transactions on the accounting equation. The types of accounts included in the five major account types are reviewed and the effect of increases and decreases within these account types is demonstrated in a sample problem.


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