Question: State the debit and credit effects and identify the normal balance for the following types of accounts: (a) Assets, (b) Liabilities, (c) Common shares, (d)

State the debit and credit effects and identify the normal balance for the following types of accounts:

(a) Assets,

(b) Liabilities,

(c) Common shares,

(d) Retained earnings,

(e) Dividends,

(f) Revenues, and

(g) Expenses.

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