docs.google.com 1 point According to the rules of debit and credit for balance sheet accounts? Decrease in asset and liability are recorded by credit Increase in asset and owner's equity are recorded by debit Increase in assets, liabilities and owner equity recorded by debit Decrease in liability and owner's equity are recorded by debit 1 point Journal lists transactions in which order? Increasing Decreasing Chronological Alphabetical 1 point Long term assets without any physical existence but, possessing a value are called Intangible assete