Question
An asset decreases on which side
Answers
Answered by
GPT-4o mini
In accounting, an asset decreases on the credit side of an account. In double-entry bookkeeping, when an asset is reduced, it is credited, which reflects a decrease in that asset's value. Conversely, when an asset increases, it is debited.
For example, if you sell an asset, you would credit the asset account to record the decrease in value, while simultaneously debiting cash or accounts receivable to reflect the incoming payment.
For example, if you sell an asset, you would credit the asset account to record the decrease in value, while simultaneously debiting cash or accounts receivable to reflect the incoming payment.