Chapter D, Problem 7QS

To determine

Accounts: An account is a unique record of increases or decreases in any asset, liability, equity, revenues or expenses. When assets and expenses are debited, their balance increase and when they are credited the account balance decrease. For increasing the liability, equity and revenue accounts the respective accounts need to be credited and for decreasing these accounts, they need to be debited.

Whether a debit or credit is required to give effect to desired change in the accounts.