The following table summarizes the rules of debit and credit. For each of the items (a) through
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The following table summarizes the rules of debit and credit. For each of the items (a) through (l), indicate whether the proper answer is a debit or a credit.
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Increase Decrease Normal Balance Balance sheet accounts: (a) (b) (c) Asset (d) Debit (e) Liability Owner's equity: Capital Credit (f) Credit Drawing (g) (h) (i) Income statement accounts: Revenue () (k) Credit Expense (1) Credit Debit
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Related Book For
Accounting
ISBN: 9781337902687
28th Edition
Authors: Carl S. Warren, Christine Jonick, Jennifer Schneider
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