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Rules of Debit and Credit The following table summarizes the rules of debit and credit. Indicate whether the proper answer is a debit or

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Rules of Debit and Credit The following table summarizes the rules of debit and credit. Indicate whether the proper answer is a debit or a credit. Increase Decrease Normal Balance Balance sheet accounts: Asset Credit Liability Credit Stockholders' equity: Common Stock Credit Retained Earnings Credit Dividends Debit Credit Income statement accounts: Revenue Expense Credit Credit Debit

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