Which of the following accounts normally has a debit balance? Sales revenue Accounts payable Land Retained earnings A credit increases an expense and increases a liability. decreases an asset and increases a liability. increases an asset and decreases an expense. increases an asset and decreases a liability. A debit increases an asset and decreases a liability. increases an asset and decreases an expense. increases an expense and increases a liability. decreases an asset and decreases a liability. The sale of merchandise to a customer partly for cash and partly on account would require which of the following entries? Dr. Cash, Cr. Sales revenue Dr. Accounts receivable, Dr. Cash, Cr. Sales revenue Dr. Accounts payable, Dr. Accounts receivable, Cr. Sales revenue Dr. Cash, Dr. Accounts payable, Cr. Sales revenue Current Attempt in Progress When an inventory item that cost $75 is sold on account for $100, which of the following would be included in the journal entry recording the cost of goods sold? Cr. Inventory $75 Dr. Cash $100 Cr. Cost of goods sold $75 Cr. Accounts Receivable $100