The following table summarizes the rules of debit and credit. For each of the items (a) through
Question:
The following table summarizes the rules of debit and credit. For each of the items (a) through (l), indicate whether the proper answer is a debit or acredit.
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Normal Balance Increase Decrease Balance sheet accounts: Asset Debit Credit (a) (b) (c) Liability Owner's equity: Capital Drawing Income statement accounts: Revenue Expense (d) (e) (g) Debit (h) (f) Debit () (k) Debit Credit
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Balance Sheet Accounts Asset Liability Owners Equity ...View the full answer
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Related Book For
Accounting
ISBN: 978-0324662962
23rd Edition
Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren
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