Question: In your own words, how does double entry accounting work with the accounting equation. What is an asset? A liability? An equity? A revenue? An

In your own words, how does double entry accounting work with the accounting equation.

What is an asset? A liability? An equity? A revenue? An expense?

Define debits and credits in relation to financial accounting.

How do debits and credits works with the different types of accounts (assets, liabilities, equity, revenue, and equity)?

What is a normal balance? What is the normal balance for each account type?

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