📊A T-account tracks changes in a specific account, providing a snapshot of its balance.
💰Debits and credits are used to record increases and decreases in an account.
📝Debits and credits have different meanings in double-entry accounting compared to everyday usage.
🔄Debits are represented on the left side of a T-account, while credits are represented on the right side.
⚖️The net change in an account is determined by calculating the difference between debits and credits.