Mike Piper

“Accumulated Depreciation is what’s known as a “contra account,” or more specifically, a “contra-asset account.”
― Mike Piper, Accounting Made Simple: Accounting Explained in 100 Pages or Less

“For every transaction, a journal entry must be recorded that includes both a debit and a credit. Debits increase asset accounts and decrease equity and liability accounts. Credits decrease asset accounts and increase equity and liability accounts. Debits increase expense accounts, while credits increase revenue accounts.”
― Mike Piper, Accounting Made Simple: Accounting Explained in 100 Pages or Less