In each of the following sentences, fill in the blanks with the word debit or credit:
1. The owner’s capital account normally has a ?__ balance. This account increases on the ?__side and decreases on the ?__ side.
2. Expense accounts normally have ?__ balances. These accounts increase on the ?__ side and decrease on the ?__ side.
3. Asset accounts normally have ?__ balances. These accounts increase on the ?__ side and decrease on the ?__ side.
4. Liability accounts normally have ?__ balances. These accounts increase on the ?__ side and decrease on the ?__ side.
5. Revenue accounts normally have ?__ balances. These accounts increase on the ?__ side and decrease on the ?__ side.