For each item that follows, indicate whether a debit or a credit applies.increase in prepaid insurance [Select][ Select ]Debitincrease in commissions earne Creditincrease in unearned revenue[ Select]

Prepaid insurance Asset Commissions earned Revenue Unearned revenue Liability

Answered: For each item that follows, indicate…

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter3: Analyzing And Recording Transactions

Section: Chapter Questions

Problem 11EA: Identify whether each of the following transactions would be recorded with a debit (Dr) or credit...

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For each item that follows, indicate whether a debit or a credit applies. increase in prepaid insurance [Select] [ Select] Debit increase in commissions earne Credit increase in unearned revenue [ Select]