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What do the terms 'debit' and 'credit' mean from an accounting perspective? What are the two...

What do the terms 'debit' and 'credit' mean from an accounting perspective? What are the two primary rules of debits and credits? How do these impact the various types of accounts (assets, liabilities, expenses, revenues, distributions to owners, and equity)? How do they help ensure that an illogical journal entry cannot be made? Provide at least one example of an illogical entry. Why would this be illogical?

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The selected Account is Cash Account wichssiedas an Asset Account bynpe The rules for cash Account are Debit-what comes in and Credit what goes out. In other words any cash inflow is recorded as a debit and cash outflow ir recorded as a credit The normal Balance of a Cash Account is a Credit Balance as increase in assets are recorded as Debit. 4 Suppose an organization makes a cash sales of $1000 The Journal Entry would be Cash 1000 Revenue 1000 Cash Account is Debited as cash sales results in cash inflow to the organization

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