The amount corresponding to a debited account can be written on the credit money column of the journal.Select one:TrueFalse

The statement is False.

In accounting, a debit to an account signifies a decrease in assets or an increase in expenses, while a credit to an account signifies an increase in liabilities or equity, or an increase in revenue. The journal serves as the initial recording of transactions. When a transaction is recorded, it is usual to debit one account and credit another.

The debited account amount should not be written in the credit column of the journal; instead, it should be properly recorded in the debit column. Conversely, the corresponding amount related to the credit transaction would be written in the credit column. This ensures that the accounting equation (Assets = Liabilities + Equity) remains balanced and that financial records are accurate. Miswriting amounts in the credit or debit columns would lead to inaccuracies in financial reporting. Thus, it’s essential to maintain correct entries in the journal for proper record-keeping.