Required Complete the following table by indicating whether a debit or credit is used to increase or
Question:
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 an example.
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Used to Increase This Element Used to Decrease This Element Category of Elements Assets Liabilities Common Stock Retained Earnings Revenue Expense Dividends Debit Credit
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Related Book For
Fundamental Financial Accounting Concepts
ISBN: 978-0078025907
9th edition
Authors: Thomas Edmonds, Christopher Edmonds
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