Cash

Debit
March 13, 2015 ENTRY

Credit
$ 2,000.00
$ 500.00

March 14, 2015 BALANCE

ENTRY March 14, 2015

$ 1,500.00

1. An entry is submitted to an assets account while a credit is submitted simultaneously to a liabilitie

2. When you use some of your assets to pay off the credited account, that account is debited and the
3. Insert new balances into both accounts

Loans
Debit
14, 2015

March 14, 2015 ENTRY

aneously to a liabilities account

unt is debited and the assets account is credited

$ 1,500.00

Credit
ENTRY March 13, 2015

$ 1,000.00

BALANCE March 14, 2015

$ 500.00

ENTRY March 13, 2015

LANCE March 14, 2015