Which of the following statements is (are) correct regarding the effect of debiting or crediting accounts?...

 

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Which of the following statements is (are) correct regarding the effect of debiting or crediting accounts? (Check all that apply.) To reduce Cash, you would credit it. To increase the Withdrawals account, you would debit it. To decrease an asset, you would credit it. To reduce Accounts payable, you would debit it To increase the Owner, Capital account you would debit it. ☐ To increase a revenue account, you would debit it. To increase an expense account, you would debit it. Which of the following statements is (are) correct regarding the effect of debiting or crediting accounts? (Check all that apply.) To reduce Cash, you would credit it. To increase the Withdrawals account, you would debit it. To decrease an asset, you would credit it. To reduce Accounts payable, you would debit it To increase the Owner, Capital account you would debit it. ☐ To increase a revenue account, you would debit it. To increase an expense account, you would debit it.

Answer rating: 100% (QA)

The correct statements are To increase an expense ... View the full answer