Chapter 3, Problem 2SEB

DEBIT AND CREDIT ANALYSIS Complete the following statements using either “debit” or “credit”:

1. (a) The asset account Prepaid Insurance is increased with a ________.
2. (b) The owner’s drawing account is increased with a ________.
3. (c) The asset account Accounts Receivable is decreased with a ________.
4. (d) The liability account Accounts Payable is decreased with a ________.
5. (e) The owner’s capital account is increased with a ________.
6. (f) The revenue account Professional Fees is increased with a ________.
7. (g) The expense account Repair Expense is increased with a ________.
8. (h) The asset account Cash is decreased with a ________.
9. (i) The asset account Delivery Equipment is decreased with a ________.