[GNC] Change a batch of transactions from income to Expe

[David Cousens]

David ,

I added an expanded sections on debits and credits after the Double Entry
section linking the explanation directly to the accounting equation to
explain why some accounts are debited to increase their balance and some are
credited. It's in 2.1.3 of the v3.6 of the guide. The information was there
previously but without that link. Also added a table of the effects of
debits and credits on the basic account types. An OP had asked a question on
the mailing list and said he found it difficult to follow and understand why
some accounts are debited and credited. He got it from the explanation I
gave in the reply so I thought it was worth clarifying the concepts a little
bit.

I have thought of gong a bit further as the reason for the specific use of
debit for an increase inan asset goes back to the latin roots as this
section from the Investopedia site
https://www.investopedia.com/ask/answers/04/072304.asp indicates:

"Having Latin roots, the term debit comes from the word debitum, meaning
"what is due," and credit comes from creditum, defined as "something
entrusted to another or a loan."

When you increase assets, the change in the account is a debit, because
something must be due for that increase (the price of the asset).
Conversely, an increase in liabilities is a credit because it signifies an
amount that someone else has loaned to you and which you used to purchase
something (the cause of the corresponding debit in the assets account)."

David



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David Cousens
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