Problem #3 Two accounting majors, Nancy Aguilar and Dakota Wipprecht were discussing debit and credit increase

Problem #3 Two accounting majors, Nancy Aguilar and Dakota Wipprecht were discussing debit and credit increase behavior before Class recently. is the crux of their discussion. Answer the questions below and we will compare them to the two ladies answers. I A debit may signify alnl b. increase in an asset account decrease in an asset account increase in a liability account increase in the stockholders' equity account 2 The type o account with a normal credit balance is: b. an asset stockholders' equity [dividendl an expense 3 A debit balance in Which Of the following accounts would indicate a likely b. d. A CCOuntS Receivable Cash Fees earned Miscellaneous Expense 4 The receipt of cash from customers in payment oftheir accounts would be recorded by : b, A debit to cash and a credit to Accounts Receivable A debit to Accounts Receivable and a credit to cash A debit to cash and a credit to Accounts Payable A debit to Accounts Payable and a credit to Cash The form listing the titles and balances of the accounts in the ledger on a given date is the: d. income statement balance sheet retained earnings trial balance