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For each of the following accounts, indicate the effects of a debit and a credit on the accounts and the normal balance of the
For each of the following accounts, indicate the effects of a debit and a credit on the accounts and the normal balance of the account. . Determine if accounts will increase or decrease with debit and credit. Then, determine the normal balance of each account. For example, Notes Payable is a liability account. Liabilities decrease with debit side but increase with credit side because its normal balance is on the credit side. Accounts will increase with its normal balance. Normal Balances Debit Effect Credit Effect Normal Balar Accounts Payable [Select] [Select] [Select] Advertising [Select] 3 [Select] v [Select] Expense Sales [Select] v [Select] [Select] Revenue Accounts [Select] [Select] [Select] Receivable Inventory [Select] [Select] [Select] Cash [Select] [Select] [Select]
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