c asset, 
liability, or owner's equity item.The double-entry system for determining the equality of the accounting equation
is much more efficient than the plus/minus proDEBIT AND CREDIT PROCEDURE
Remember that each transaction must affect two or more accounts to keep the basic 
accounting equation in balance.Debits and Credits
The terms debit and credit are directional signals: Debit indicates left, and credit 
indicates right.They indicate which side of a T account a number will be recorded 
on. Entering an amount on the left side of an account is called debiting the 
account.We commonly 
abbreviate debit as Dr. and credit as Cr. Having debits on the left and credits on 
the right is an accounting custom, or rule.In other words, for each transaction, debits must equal 
credits in the accounts.The equality of debits and credits provides the basis for the 
double-entry system of recording transactions. For example, Softbyte (the company discussed in 
Chapter 1) would have separate accounts for Cash, Accounts Receivable, Accounts 
Payable, Service Revenue, and Salaries Expense.