Assets acquired is recorded by debiting _______?

Assets acquired are recorded by debiting Asset Account and crediting Cash Account. This means that the Asset Account will increase while the Cash Account will decrease. When a company acquires an asset, it uses cash or a similar form of payment to make the purchase. Therefore, the Cash Account is credited because there is a decrease in cash, while the Asset Account is debited because there is an increase in assets. This helps to maintain the accounting equation, which states that assets must always equal liabilities plus equity. By debiting the Asset Account and crediting the Cash Account, the transaction is properly recorded in the company's books.