Question: Please answer INCREASE or DECREASE or NO EFFECT II. What is the effect on the following: (1 point each item) 1. Debit Petty Cash Fund

Please answer INCREASE or DECREASE or NO EFFECT

II. What is the effect on the following: (1 point each item) 1. Debit Petty Cash Fund Effect on Asset? 2. Credit D. Capital Effect on Revenue? 3. Credit Cost of Good Sold Effect on Expenses? 4. Debit Retained Earnings Effect on Equity? 5. Debit Cash Equivalent Effect on Asset? 6. Credit Land Effect on Liabilities? 7. Credit Accrued Rent Expenses Effect on Asset? 8. Credit Prepaid Rent Expense Effect on Liabilities? 9. Received cash from debtors. Effect on Asset? 10. Received cash from debtors. Effect on Liabilities

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