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Debits and Credits Poem

First published in 1801, here is a famous poem to help students of double-entry accounting remember what to credit and what to debit.

By Journal Laws - what I receive
Is Debtor made to what I give;
Stock for my Debts must Debtor be,
And Creditor my Property;
Profit and Loss Accounts are plain.
I debit Loss, and credit Gain.