Revenue

It is the money earned from the sale of good or services Revenue increases Owner’s Equity

The reason why it is a Credit because Owner’s Equity is increased by adding Credit

TIp

Whenever a service is performed and you received the cash

• Debit - Cash
• Credit - Revenue

Whenever a service is performed and you did not receive the cash

• Debit - Accounts Receivable
• Credit - Revenue

Whenever you get cash for a service performed before

• Debit - Cash
• Credit - [[Accounts Receivable]