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Exercise 3-1A Matching debit and credit terminology with accounting elements LO 3-1 Required Complete the following table by indicating whether a debitor credit is used
Exercise 3-1A Matching debit and credit terminology with accounting elements LO 3-1 Required Complete the following table by indicating whether a debitor credit is used to increase or decrease the balance of accounts belonging to each category of financial statement elements. The appropriate debit/credit terminology has been identified for the first category (assets) as an example. Category of Elements Used to Increase The Element Used to Decrease This Element Assets Dobit Credit Lubes Common stock Retained ownings Revenue Expense Dividends ere to search
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