A. Determine if a debit, credit, or nil entry would be made to the balance sheet: 1.
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Question:
A. Determine if a debit, credit, or nil entry would be made to the balance sheet:
1. Increase Accounts Receivable
2. Increase Accounts Payable
3. Decrease Mortgage Payable
4. Increase Office Supplies
5. Decrease Owner’s Capital
6. Increase Cash
7. Decrease Office Furniture
8. Increase Owner’s Withdrawals
9. Decrease Unearned Revenue
10. Increase Revenue
B. Determine if the normal balance is a debit or a credit:
1. Service Revenue
2. Unearned Revenue
3. Cash
4. Accounts Receivable
5. Bank Loan
6. Advertising Expense
7. Note Payable
8. Rent Expense
9. Owner’s Capital
10. Undeveloped Land
Related Book For
Cornerstones of Managerial Accounting
ISBN: 978-0324660135
3rd Edition
Authors: Mowen, Hansen, Heitger
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