On Nov 06, 1996 03:31am, DANIEL JONES wrote to CAROLE CAPUANO:
CC>>  BW> Huh?  Credit balances are liabilities on the balance sheet with
CC>>  BW> regard to how the account may be captioned.  (Okay, a few are k
CC>>  BW> as "contra-assets" -- such as accumulated depreciation and bad
CC>>  BW> reserves.)
CC>> We were talking about using a bank account to record credit card pur
CC>> bank account: asset, credit card: liability.
 DJ> So it's a negative asset.  Unless you're running a business where the
 DJ> IRS might come audit your books, does it really matter?
You just said it all....
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