Financial Reporting Problem: Columbia Sportswear Company The financial statements for the Columbia Sportswear Company can be found in Appendix A at the end of this book. The following selected accounts, in thousands, are from those statements:

Required

a. For each of these accounts, indicate whether a debit or a credit is required to increase its balance.

b. What other account is likely involved when:

1. Accounts receivable is increased?

2. Accounts payable is decreased?

3. Net sales are increased?

Appendix A

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Common stock. $1,585,009 Accounts payable. 252,301 Accounts receivable 364,862 Inventories... 457,927 Prepaid expenses and other current assets. 58,559 Property, plant, and equipment... 281,394 Net sales.... 2,466,105