Fill in the Blanks Session 4- Payment ProcessingOnline version Session 04 - Payment Processing Graduate School of Information Technology Siam University, Bangkok, Thailand By: James G. Williams Professor Emeritus, University of Pittsburgh by Prince Parham 1 positive Debit PayPal double Liabilities Credit Types of Payment for goods and services are as follows : Cash Check Card Debit Card In a double entry accounting system , a is any entry recorded on the left and a Credit an entry recorded on the right . Debits and credits do not mean a decrease or increase . Debits and Credits are recorded as numbers . The general ledger is where all accounting transactions are posted in a entry system using debits ( on the left ) and credits ( on the right ) for each transaction . All accounts in the chart of accounts are grouped in one of five categories : Assets , , Owner's Equity , Revenue , and Expenses . is generally accepted as the most widely used online merchant account service with more than 150 million users across the world .
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