Question: Accounting Elements: Increase/Decrease, Debit/Credit Relationships The text describes the following accounting elements: assets, liabilities, owners equity, capital stock, retained earnings, revenues, expenses, and dividends. Which

Accounting Elements: Increase/Decrease, Debit/Credit Relationships The text describes the following accounting elements: assets, liabilities, owners’ equity, capital stock, retained earnings, revenues, expenses, and dividends. Which of these elements are increased by a debit entry, and which are increased by a credit entry? Give a transaction for each item that would result in a net increase in its balance.

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