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For each of the following, indicate (a) if the account is an asset, liability, or owner's equity account; and (b) whether you would use a
For each of the following, indicate (a) if the account is an asset, liability, or owner's equity account; and (b) whether you would use a debit or credit to record the change: (a) Account (b) Change with 1. Increase in D. Parmelee, Capital 2. Decrease in Cash V V 3. Decrease in Notes Payable v 4. Increase in Rent Expense 5. Increase in D. Parmelee, Drawings V 6. Increase in Equipment V 7. Increase in Accounts Payable 8. Increase in Service Revenue
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