In the 14th century, plague ravaged Europe and Asia and was called the Black Death. Plague does not respond to penicillin, but other antibiotics are effective. Sanitary measures against fleas and rodents, quarantine and extreme caution in handling infectious materials help to suppress epidemics.
1. Expense recognition. Expenses are decreases in assets (e.g., rent expenses) or increases in liabilities (e.g., accrued utility expenses) that result from operating activities undertaken to generate revenue. Expenses are recognized in accordance with the matching principle. This principle mandates that the expense or cost of doing business is recorded in the same period as the revenue that has been generated as the result of incurring that expense or cost.
Breaking this down into accounting terms, what we want to do is increase the money in our bank account and decrease the money that is owed to us (i.e. decrease the amount of money in our accounts receivable account). To increase an asset, we debit it, so we choose bank account, enter an ID of 2, and enter in $2,000. Debit Bank Account, ID#2, $2,000. Likewise, to decrease an asset (our accounts receivable account), we credit it. So we choose accounts receivable, choose a matching ID of 2, and enter in $2,000. Credit Accounts Receivable, ID#2, $2,000. What this entry does is simply move the money from one asset account to another asset account.