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Debit means left side and credit means right side. Look at exhibit 2.7 and discuss in detail in your own words of how debits and
Debit means left side and credit means right side. Look at exhibit 2.7 and discuss in detail in your own words of how debits and credits affects the major accounts in financial accounting. Use account titles such as assets, liabilities, equity,and phrases such as increases, decreases, and normal balance
omdonent Accounts Equity Assets LiabilitiesOwner, CapitalOwner, WithdrawasRev Revenues Dr. for C for Dr. for Cr. for decreases increases decreases increases increases decreases Dr. for Cr. for Dr. for Cr for Dr. for Cr. for ncreases decreases decreases increases increases decees Normal Normal NormalStep by Step Solution
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