I recently acquired a credit card for my business. Normally, I use my
checking account's debit card to pay for expenses. The checking
account is listed in the CoA as #1060, Checking Account. I'm
wondering how I should classify the credit card? Is it also a current
asset like my debit card? I think of it more as a liability, since I
accumulate charges against it, then pay it off each month from the
checking account.
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Best Regards,
Wallace
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