Your initial discussion thread is due on Day 3 (Thursday) and you have until Day 7 (Monday) to respond to your classmates. Your grade will reflect both the quality of your initial post and the depth of your responses. Refer to the Discussion Forum Grading Rubric under the Settings icon above for guidance on how your discussion will be evaluated.

  Debit/Credit

Using your text and at least one scholarly source, respond to the following: Transactions typically use the double-accounting method of recording, specifically debits and credits. Explain how debits and credits are posted and the types of accounts that are impacted by each of these transactions. In other words, do debits impact assets and if so, does the debit increase or decrease that account?  Use this example as you work through the debit and credit discussion question. You must respond to at least two of your classmates’ posts to receive full credit.