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Use our secret weapon ADEx LER (Accountants Don’t Expect Low Earning Rates) to apply Debits and Credits to actual transactions of a business. We will learn how double-entry bookkeeping takes everyday activities and turns them into data that can be processed. First, we will visualize transactions with T-Accounts, later with journal entries. Finally, we will create the resulting income statement and balance sheet to see how the accounts flow into these statements. This video will answer common questions like: – How do your write and record debits and credits? – What is a credit with example? – How is a journal entry recorded? – What are COGS? – Is expense a debit or a credit? Course Length: 14:52 minutes Source: Leila Gharani

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