Week 1 DQ3 What do you think of when you hear the word debit? What do you think of when you hear the word credit? Why does your bank statement show a credit for an increase in your cash balance? Why are T accounts such a valuable tool for analyzing accounting transactions? When I hear the word debit, I think about money being taken out of my bank account. When I hear the word credit, I think of money being added to my bank account or money that is available to me, like a credit card.

My bank statement shows a credit for an increase in my cash balance because money was added and that is what is available to me.

T accounts are a valuable tool for analyzing accounting transactions because it is the most basic visual tool of accounting. You can use it for any of the accounts used for...