Teaching isn't known to be a lucrative profession, but online marketplace Teachers Pay Teachers is changing that for some educators. Deanna Jump, a kindergarten teacher from Georgia, has made $700,000 selling her lesson plans on Teachers Pay Teachers, an ecommerce startup where teachers offer their lesson plans to fellow educators.
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Bank loan is the source of value so it is recorded as a 'credit' and the Bank account of the business is the destination or use of the value so it is recorded as a 'debit'. Applying this principle will help you identify the 'credit = source' and 'debit = destination' of every transaction.