Matching debit and credit terminology with accounting elements Required Complete the following table by indicating whether a
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Complete the following table by indicating whether a debit or credit is used to increase or decrease the balance of accounts belonging to each category of financial statement elements. The appropriate debit/credit terminology has been identified for the first category (assets) as anexample.
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Used to Increase This Element Used to Decrease This Element Category of Elements Credit Assets Liabilities Common Stock Retained Earnings Revenue Expense Dividends Debit
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Related Book For
Fundamental financial accounting concepts
ISBN: 978-0078025365
8th edition
Authors: Thomas P. Edmonds, Frances M. Mcnair, Philip R. Olds, Edward
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