Fill in the blanks below with the word debit or credit. a. The balance of an asset

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Fill in the blanks below with the word “debit” or “credit.”

a. The balance of an asset account increases with a __________ and decreases with a __________.

b. The balance of a liability account increases with a __________and decreases with a __________.

c. The balance of a stockholders’ equity account increases with a __________and decreases with a __________.

d. The balance of a revenue account increases with a __________and decreases with a__________ .

e. The balance of an expense account increases with a __________ and decreases with a  __________.


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Financial Accounting

ISBN: 978-0078025549

3rd edition

Authors: J. David Spiceland, Wayne Thomas, Don Herrmann

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