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Please explain why are these recorded as credits or debits as listed below Cash decrease Credit Supplies decrease Credit Accounts payable increase Credit Common stock
Please explain why are these recorded as credits or debits as listed below
Cash decrease | Credit | ||
Supplies decrease | Credit | ||
Accounts payable increase | Credit | ||
Common stock decrease | Debit | ||
Interest payable increase | Credit | ||
Notes payable decrease | Debit | ||
Equipment decrease | Credit | ||
Common Stock Sold increase | Credit | ||
Gas and Oil Expense increase | Debit | ||
Service revenue decrease | Debit | ||
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