Question

Complete the following statements using either “debit” or “credit”:
(a) The asset account Prepaid Insurance is increased with a _________.
(b) The owner’s drawing account is increased with a _________.
(c) The asset account Accounts Receivable is decreased with a _________.
(d) The liability account Accounts Payable is decreased with a _________.
(e) The owner’s capital account is increased with a _________.
(f) The revenue account Professional Fees is increased with a _________.
(g) The expense account Repair Expense is increased with a _________.
(h) The asset account Cash is decreased with a _________.
(i) The asset account Delivery Equipment is decreased with a _________.



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  • CreatedDecember 20, 2011
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