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(36) In a typical credit entry, the payor (Originator) initiates the entiy through its bank (ODFI), which electronically transfers money into the payee's (Receiver) bank account at the RDFI.
No indication is given of what amount should be used for the credit entry relating to the sale: should it be the cost of the goat or the amount for which it has been sold--presumably the latter.
The accounts begin in 1804, when Malthus was 38 years of age, with the first credit entry on June 20 and the In'st debit entry on June 27.
So, for every debit entry, there must be an equal and opposite credit entry. There must always be a balancing of the books.
If you answered that the correct credit entry should be to credit deferred revenue for $100, you would flunk the test--at least if the Financial Accounting Standards Board (FASB) were doing the grading that day.
When the reserves are reduced and debited, expect Cash to be the credit entry. Credits to a revenue account or expense account usually mean the initial reserve is being used differently from what the initial accounting appears to reflect.

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