What will increase the following account items – Debit or Credit? Fill in the blanks. Assets _____________ Equity _____________ Losses _____________ What will decrease these account items – Debit or Credit? Fill in the blanks. Liabilities __________ Expenses __________ Gains _____________ What is the normal balance for these account items – Debit or Credit? Fill in the blanks. Revenue __________ Losses____________ Assets ____________
What will increase the following account items – Debit or Credit? Fill in the blanks. Assets _____________ Equity _____________ Losses _____________ What will decrease these account items – Debit or Credit? Fill in the blanks. Liabilities __________ Expenses __________ Gains _____________ What is the normal balance for these account items – Debit or Credit? Fill in the blanks. Revenue __________ Losses____________ Assets ____________
Chapter3: Analyzing And Recording Transactions
Section: Chapter Questions
Problem 26MC: What is the impact on the accounting equation when an accounts receivable is collected? A. both...
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What will increase the following account items – Debit or Credit? Fill in the blanks.
Assets _____________
Equity _____________
Losses _____________
What will decrease these account items – Debit or Credit? Fill in the blanks.
Liabilities __________
Expenses __________
Gains _____________
What is the normal balance for these account items – Debit or Credit? Fill in the blanks.
Revenue __________
Losses____________
Assets ____________
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