Thanks a bunch for very good answers. I did have to read the follow-up 
several times though to fully understand what was said.

I do have a couple of other questions about keeping my Ledger journal..

I do have a credit card from my bank with a predefined credit amount on it. 
When I pull out money from the credit card, I decrease the amount of credit 
available and increase my liabilities.

When I pay back more than I owe on this account, then I have just increased 
my credit by that amount.

I have it set up as a liability account, but that does not show me how much 
credit I have on the card.

What is the proper way of representing such accounts so that I could see 
how much I owe but also be able to see, how much credit do I have?

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