Question: Identify the statement below that is correct: Multiple Choice The left side of a T - account is the credit side. Debits decrease asset and

Identify the statement below that is correct:
Multiple Choice
The left side of a T-account is the credit side.
Debits decrease asset and expense accounts, and increase liability, equity, and revenue accounts.
The left side of a T-account is the debit side.
Credits increase asset and expense accounts, and decrease liability, equity, and revenue accounts.
The total amount debited need not equal the total amount credited for a particular transaction.

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