Below is a list of common accounts.Accounts                               Debit or CreditCash                                        1.__________Service Revenue                      2.__________Salaries Expense                     3.__________Accounts Payable                   4.__________Equipment                              5.__________Retained Earnings                  6.__________Utilities Expense                     7.__________Accounts Receivable              8.__________Dividends                               9.__________Common Stock                     10.__________Required:Indicate whether the normal balance of each account is a debit or a credit.

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Q: “Credit card” (with an outstanding balance) would be which type of account? a.Proprietary…

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A: The journal entries are prepared to keep the record of day to day transactions of the business.

Q: Calculating the balance of a T-account Calculate the Accounts Payable balance.

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A: The objective of the question is to identify the correct accounts that would be debited and credited…

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A: The Answer

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Q: For the following accounts please indicate whether the normal balance is a debit or a credit. Wages…

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Bookkeeping

Bookkeeping is the process of recording the financial transactions of a company on a regular basis. With the process of bookkeeping, companies can track important financial information that helps management in making crucial decisions.