Need Help Making IF formula, please!

Hi there,
I would love your help with making an IF THEN formula.

I am importing my expenses from Mint. There are two columns:

  • Amount: $
  • Transaction Type: Credit or Debit

The amounts are all positive, and the “Credit” or “Debit” lets you know whether the number should be considered a positive or a negative number.

I would like to have the following statement turned into a formula:
In a new column called “True Amount” : If Transaction Type is Debit, Multiply Amount by -1

Therefore, if I spent $100 and earned $50 the numbers would look like this
and sum to $50

Now they look like:
and sum to $150 which makes no sense


IF({Transaction Type} = "Debit", - {Amount}, {Amount})

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