What Account is Credited When a Debit Card is Used to Purchase Supplies?
When a debit card is used to buy supplies, the Cash Account is credited, reducing the cardholder's checking account balance and accurately recording the decrease in available funds.
by Sai V
Published Oct 27, 2023 | Updated Oct 27, 2023 | ๐ 1 min read
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What Account is Credited When a Debit Card is Used to Purchase Supplies?
When a debit card is used to purchase supplies, the Cash Account is credited. This means that the amount of the purchase is directly deducted from the cardholder's checking account, reducing the cash balance in the account. The credit in the Cash Account reflects the decrease in available funds due to the transaction, ensuring accurate record-keeping of the financial transaction.
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