[ale] OT: Bank of America

[Mike Millson]

On Fri, 2003-11-21 at 14:45, Bob Toxen wrote:
> When you buy a $3 stack of note pads you credit Office Supplies because it
> you now have $3 worth of stuff and debit the checking account, usually
> represented as the "balance" on the ledger.

You would Debit the Office Supplies account $3. When assets (office
supplies) increase, that's a Debit. You would Credit your checking
account $3. When assets (checking account) decrease, that's a Credit.

That's why it's confusing. It's not the normal way someone thinks of the
word "Credit".

Mike