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A credit to a liability account: indicates an increase in the amount owed to creditors. indicates a decrease in the amount owed to creditors. U
A credit to a liability account: indicates an increase in the amount owed to creditors. indicates a decrease in the amount owed to creditors. U credits never apply to a liability account. O must be accompanied by a debit to an asset account
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Financial Accounting An Integrated Statements Approach
Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren
2nd Edition
324312113, 978-0324312119
