How many of the following are true regarding debits and credits? In any given transaction, the total
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How many of the following are true regarding debits and credits? In any given transaction, the total amount of the debits and the total amount of the credits must be equal. Debits decrease certain accounts and credits decrease certain accounts. Liabilities and Stockholders' Equity accounts usually end in credit balances, while assets usu- ally end in debit balances.
a. none
b. one
c. two
d. three LO1
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