For each account, identify whether the changes would be recorded as a debit (DR) or credit (CR). a. Increase to Accounts Receivable b. Decrease to Unearned Revenue c. Decrease to Cash d. Increase to Interest Expense e. Increase to Salaries Payable DR CR
For each account, identify whether the changes would be recorded as a debit (DR) or credit (CR). a. Increase to Accounts Receivable b. Decrease to Unearned Revenue c. Decrease to Cash d. Increase to Interest Expense e. Increase to Salaries Payable DR CR
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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For each account, identify whether the changes would be recorded as a Debit (DR), or Credit (CR).
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Transcribed Image Text:Homework: Chapter 2 Homework
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For each account, identify whether the changes would be recorded as a debit (DR) or credit (CR).
a. Increase to Accounts Receivable
b. Decrease to Unearned Revenue
c. Decrease to Cash
d. Increase to Interest Expense
e. Increase to Salaries Payable
DR
CR
Expert Solution
Step 1
All the asset and expense accounts are increased with a debit and decreased with a credit. On the other hand, all the liability, shareholders' equity, and revenue accounts are increased with credit and decreased with a debit.
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