Exercise 245 account balance. For each of the following accounts indicate the type of account, the debit and credit effects and the normal Example 0. Cash a. Asset account b. Debit increases, credit decreases c. Normal balance - debit Type Of Account Debit Effect Credit Effect Normal Account Balance Accounts Payable 2. Accounts Receivable 3. Common Stock 4. Dividends 5. Service Revenue 6. Insurance Expense Accounts Payable Liability 7. Notes Payable 8. Equipment Question Attempts