[GNC] Recommended Method of Entry for IRA Distributions

[Adrien Monteleone]

Thanks for the trip down Memory Lane, Michael. I had long forgotten the 
'Owes/Trusts' origin of the system. I think many things are much easier 
to understand when you find out 'why they are'. Learning the basics of 
the 'old days' helped me to grok Debits & Credits many moons ago.

Regards,
Adrien

On 1/12/23 2:42 PM, Michael or Penny Novack wrote:
> a) Double entry bookkeeping goes back a long way, long enough that Latin 
> still in use for communications among the educated in Europe. Think of 
> "debit" and "credit" not in terms of plus and minus (before European 
> math had negative numbers) but as "he owes"(me) and "he trusts" (me). In 
> other words  he owes me that amount and he trusts me for that amount (I 
> owe him)