For each of the following accounts, indicate the effects of (1) a debit and (2) a credit

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For each of the following accounts, indicate the effects of (1) a debit and (2) a credit on the accounts and (3) the normal balance of the account.

a. Accounts Payable.
b. Advertising Expense.
c. Service Revenue.
d. Prepaid Insurance.
e. Owner’s Capital.
f. Owner’s Drawings.

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College Accounting

ISBN: 1986

1st Edition

Authors: Jerry J. Weygandt, Paul D. Kimmel, Deanna C. Martin, Jill E. Mitchell

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Question Posted: Dec 19, 2019 09:17 AM

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For each of the following accounts, indicate the effects of (1) a debit and (2) a credit

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a Debit Effect b Credit Effect c Normal Balance 1 Accounts Pa...View the full answer

College Accounting

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