Alions of the rules of debit and credit is tru ve rent expense with debits and the normal balance is a debit. u. Decrease ecrease accounts receivable with credits and the normal balance is crease accounts payable with credits and the normal balance is ad decrease cash with debits and the normal balance is a credit. c. Increase account dit is true? alance is a credit 37. The process of init a. Sliding b. Posting me process of initially recording a business transaction is called: balance is a debit. C. Journalizing * d. Transposing 38. The declining-balance method of depreciation produces a. a decreasing depreciation expense each period. b. an increasing depreciation expense each period. C. a declining percentage rate each period. d. a constant amount of depreciation expense each period. 39. A truck was purchased for $120,000 and it was estimated to have a $24,000 salvage value a ne end of its useful life. Monthly depreciation expense of $2,000 was recorded using the straight- line method. The annual depreciation rate is a. 20% b. 2% C. 8%. d. 25%. 40. The four subdivisions for plant assets are (a. land, land improvements, buildings, and equipment. b. intangibles, land, buildings, and equipment. dinar and olinment