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Question-5 Marks-10 Alves is tutoring Johnson, who is taking introductory accounting. Alves explains to Johnson that debits are used to record increases in accounts
Question-5 Marks-10 Alves is tutoring Johnson, who is taking introductory accounting. Alves explains to Johnson that debits are used to record increases in accounts and credits record decreases. Johnson is confused and seeks your advice. Required: 1. When are debits increases? When are debits decreases? 2. When are credits increases? When are credits decreases? 3. Identify which types of accounts have a normal debit balance and which types have a normal credit balance.
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