Indicate whether a debit will increase (I) or decrease (D) each of the following accounts listed in items 1 through 15.

Debits and credits

● LO2–1 Increase (I) or Decrease (D) Account 1. _____ Inventory 2. _____ Depreciation expense 3. _____ Accounts payable 4. _____ Prepaid rent 5. _____ Sales revenue 6. _____ Common stock 7. _____ Salaries payable 8. _____ Cost of goods sold 9. _____ Utilities expense 10. _____ Equipment 11. _____ Accounts receivable 12. _____ Utilities payable 13. _____ Rent expense 14. _____ Interest expense 15. _____ Interest revenue