Explain why the rules of debit and credit are the same for liability accounts and owners equity

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Explain why the rules of debit and credit are the same for liability accounts and owner’s equity accounts.

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Accounting

ISBN: 978-0324662962

23rd Edition

Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren

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Question Posted: Aug 27, 2011 07:20 AM

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Explain why the rules of debit and credit are the same for liability accounts and owners equity

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The owners Equity accounts and Liability accounts are basically what the business owe...View the full answer

Accounting

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