ABSTRACT
DOUBLE-ENTRY BOOKKEEPING We have seen that accountants refer to the left-hand side of an account as the ‘debit’ side, and the right-hand side as the ‘credit’ side. Thus, for Cheviot Industries, which sold stock for £2 500 on credit, instead of saying: ‘Plus Sales, Plus Debtors’ (as we did earlier on page 67), in practice one would say: ‘Credit Sales, Debit Debtors with £2 500’.
