indicate whether to debit or credit when the financial statement elements (asset, liability, equity etc) change. 4 Increase Decrease Asset Debit Credit Liability Credit Debit Equity Credit Debit Drawings Revenue Debit Expense Credit Profit " 4 4 4 Credit Debit 4 4 " Select the correct category for the following ledger accounts. : 4 4 Cash Asset Bank Loan Liability Building Asset Land Asset Notes Payable Liability Prepaid Expenses Asset Salary Expense Expense Inventory Asset Product Revenue Insurance Expense Owner Capital Salary Payable Accounts Receivable Unearned Revenue 4 4 Tav Fynance 4 th th