Thanks for the trip down Memory Lane, Michael. I had long forgotten the
'Owes/Trusts' origin of the system. I think many things are much easier
to understand when you find out 'why they are'. Learning the basics of
the 'old days' helped me to grok Debits & Credits many moons ago.
Regards,
Adrien
On 1/12/23 2:42 PM, Michael or Penny Novack wrote:
a) Double entry bookkeeping goes back a long way, long enough that Latin
still in use for communications among the educated in Europe. Think of
"debit" and "credit" not in terms of plus and minus (before European
math had negative numbers) but as "he owes"(me) and "he trusts" (me). In
other words he owes me that amount and he trusts me for that amount (I
owe him)
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