Introducing debits and credits...
We have been using green and orange (yellow) as code for debits and credits.
Video Tx9-0: Debits and credits
Video Tx9-0: Debits and credits
Tx09. Shop cleaning - $200
The net profit brought forward is $650.
What do we have more of, or perhaps less of, as a result of this transaction?
What if they didn't give us an invoice? Would this still be considered an expense of the period?
What do we have more of, or perhaps less of, as a result of this transaction?
What if they didn't give us an invoice? Would this still be considered an expense of the period?
Video Tx9-1: Observations
[Note: review the video only for the current transaction - ignore other amounts on the whiteboard]