T-accounts ... Accountants and bookkeepers often use T-accounts as a visual aid to see the effect of a transaction or journal entry on the two (or more) accounts ...DebitsandCredits(Explanation)PrintPDFPart1IntroductiontoDebitsandCredits,WhatIsanAccount?,Double-EntryAccounting,Debits&CreditsPart2T–accounts,JournalEntries,WhenCashIsDebitedandCreditedPart3NormalBalances,Revenues&GainsareUsuallyCredited,Expenses&LossesareUsuallyDebited,Permanent&TemporaryAccountsPart4Bank'sDebits&Credits,Bank'sBalanceSheet,RecapT-accountsAccountantsandbookkeepersoftenuseT-accountsasavisualaidtoseetheeffectofatransactionorjournalentryonthetwo(ormore)accountsinvolved.Tolearnmoreabouttheroleofbookkeepersandaccountants,visitourtopicAccountingCareers.WewillbeginwithtwoT-accounts:CashandNotesPayable.Let'sdemonstratetheuseoftheseT-accountswithtwotransactions:OnJune1,2020acompanyborrows$5,000fromitsbank.Asaresult,thecompany'sassetCashmustbeincreasedby$5,000anditsliabilityNotesPayablemustbeincreasedby$5,000.ToincreasetheassetCashtheaccountneedstobedebited.Toincreasethecompany'sliabilityNotesPayablethisaccountneedstobecredited.AfterenteringthedebitsandcreditstheT-accountslooklikethis:OnJune2,2020thecompanyrepays$2,000ofthebankloan.Asaresult,thecompany'sassetCashmustbedecreasedby$2,000anditsliabilityNotesPayablemustbedecreasedby$2,000.ToreducetheassetCashtheaccountwillneedtobecreditedfor$2,000.TodecreasetheliabilityNotesPayablethataccountwillneedtobedebitedfor$2,000.TheT-accountsnowlooklikethis:Confused?SendFeedbackJournalEntriesAnotherwaytovisualizebusinesstransactionsistowriteageneraljournalentry.Eachgeneraljournalentryliststhedate,theaccounttitle(s)tobedebitedandthecorrespondingamount(s)followedbytheaccounttitle(s)tobecreditedandthecorrespondingamount(s).Theaccountstobecreditedareindented.Let'sillustratethegeneraljournalentriesforthetwotransactionsthatwereshownintheT-accountsabove.Confused?SendFeedbackWhenCashIsDebitedandCreditedBecausecashisinvolvedinmanytransactions,itishelpfultomemorizethef