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Select each statement either the word "debit" or "credit." 1. An asset account is increased with a the account. 2. Owner's equity is increased with a 3. To place an amount on the left-hand side of the T account is to 4. The prepaid insurance account is increased by entering a 5. The drawing account is decreased by entering a 6. The accounts payable account is decreased with a 7. The owner's capital account is increased with a 8. The wages expense account is increased with a 9. The fees earned account is increased with a 10. The equipment account is decreased with a