When you pay a bill using a debit card, the bank account decreases while the expense account increases.
A right to compensation for money spent by employees for employment-related purposes is known as an expense account. The following are some examples of common expense accounts: Cost of sales, utilities expense, discount permitted, cleaning expense, depreciation expense, delivery expense, income tax expense, insurance expense, interest expense, advertising expense, promotion expense, repairs expense, maintenance expense, rent expense, salaries and wages expense, transportation expense, supplies expense, and refreshment expense.
A debit must be made in order to grow an expenditure account. An expense account must be credited in order to lower it. The balance of the typical spending account is a debit. Because retained earnings are revenues less expenses less dividends, expenses appear under the equity side of the calculation, which is common stock plus retained profits.
Learn more about Expense account, here
https://brainly.com/question/26435867
#SPJ4
