The following table summarizes the rules of debit and credit. For each of the items (a) through (1). indicate whether the proper answer is a debit or a credit. Increase Decrease Normal Balance Balance sheet accounts: Asset (a) (b) Liability Owner's equity: Capital (d) Debit (e) Credit Credit Drawing Income statement accounts: (g) Revenue Credit Expense Credit Debit

The following table summarizes the rules of debit and credit. For each of the items (a) through (1). indicate whether the proper answer is a debit or a credit. Increase Decrease Normal Balance Balance sheet accounts: Asset (a) (b) Liability Owner's equity: Capital (d) Debit (e) Credit Credit Drawing Income statement accounts: (g) Revenue Credit Expense Credit Debit

Name: EX 2-4 Rules of debit and creditObj. 1, 2The following table summariz
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Description: EX 2-4 Rules of debit and creditObj. 1, 2The following table summarizes the rules of debit and credit. For each of the items (a) through (1).indicate whether the proper answer is a debit or a credit.Increase Decrease Normal BalanceBalance sheet acco

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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