The following table summarizes the rules of debit and credit For each of the items (a) through (l), indicate whether the proper answer is a debit or a credit Increase Decrease Normal Balance Balance sheet accounts (a) (b) (c) Asset (d) Debit (e) Liability Owner's equity Capital Credit (f) Credit Dr...

The following table summarizes the rules of debit and credit. For each of the items (a) through

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The following table summarizes the rules of debit and credit. For each of the items (a) through (l), indicate whether the proper answer is a debit or a credit.

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Accounting

ISBN: 9781337902687

28th Edition

Authors: Carl S. Warren, Christine Jonick, Jennifer Schneider

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Question Posted: Apr 05, 2021 03:20 AM

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The following table summarizes the rules of debit and credit. For each of the items (a) through

Question:

Increase Decrease Normal Balance Balance sheet accounts: (a) (b) (c) Asset (d) Debit (e) Liability Owner's equity: Capital Credit (f) Credit Drawing (g) (h) (i) Income statement accounts: Revenue () (k) Credit Expense (1) Credit Debit

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Accounting

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