Types of accounts and effects of debits and credits (Learning Objective 2)

5–10 min.

For each item below, indicate whether a debit or credit applies.

1. Decrease in Prepaid Insurance ________ 2. Increase in Commission Revenue ________ 3. Decrease in Unearned Revenue ________ 4. Increase in Dividends ________ 5. Decrease in Interest Receivable ________ 6. Increase in Depreciation Expense ________ 7. Decrease in Notes Payable ________ 8. Increase in Supplies ________ AppendixLO1