For expenses incurred but not yet paid, the accountant would debit the "expenses" account on the income statement and credit the "accounts payable" account on the balance sheet. This increases a ...

Credit cards and debit cards look almost exactly alike but are actually quite different. Money you spend or withdraw using a debit card comes straight out of your bank account – you’re spending your ...

Citigroup, Inc. C accidentally credited a client’s account with $81 trillion when it was supposed to credit only $280. This error could delay the bank’s attempt ...