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Indicate whether a debit or credit decreases the normal balance of each of the following accounts. Decrease Normal Balance a. Dividends Credit b. Office Supplies
Indicate whether a debit or credit decreases the normal balance of each of the following accounts. Decrease Normal Balance a. Dividends Credit b. Office Supplies Credit C. Commission Revenue Debit d. Salaries Expense Credit e. Factory Credit f. Fuel Expense Credit g. Rent Expense Credit h. Rent Payable Credit i. Furniture Credit j. Land Credit k. Equipment Credit I. Common Stock Debit Classify each of the following accounts as an asset (A), liability (L), or equity (EQ) account. a. A C. L A Taxes Payable b. Supplies Interest Payable d. Accounts Receivable e. Prepaid Rent f. Dividends g. Property h. Common Stock A EQ A EQ i. Plant
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