Rules of Debit and Credit "Mirror Image" Approach: One way to explain the rules of debit and credit is to draw the following equation on the board. Assets + = _ Liabilities _ + + Owner's Equity _ + Point out that the rules for increasing and decreasing liabilities and owner's equity accounts are the mirror image of the rules for assets. Alternative Approach: The rules of debit and credit can also be explained with the following saying: After eating dinner, let's read the comics. Here's how it works. After Eating Dinner, Let's Read the Comics Accounts increased with a debit: Assets Expenses Drawings Accounts increased with a credit: Liabilities Revenues Capital Reminder: that business transactions are initially recorded in a record called a journal. After each entry is journalized, it is posted to the proper account in the ledger. In this group exercise will post entries into a T account.