The following table summarizes the rules of debit and credit For each of the items (a) through (l), indicate whether the proper answer is a debit or acredit Normal Balance Increase Decrease Balance sheet accounts Asset Debit Credit (a) (b) (c) Liability Owner's equity Capital Drawing Income stateme...

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The following table summarizes the rules of debit and credit. For each of the items (a) through

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The following table summarizes the rules of debit and credit. For each of the items (a) through (l), indicate whether the proper answer is a debit or acredit.

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Accounting

ISBN: 978-0324662962

23rd Edition

Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren

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Question Posted: Aug 27, 2011 07:32 AM

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The following table summarizes the rules of debit and credit. For each of the items (a) through

Question:

Normal Balance Increase Decrease Balance sheet accounts: Asset Debit Credit (a) (b) (c) Liability Owner's equity: Capital Drawing Income statement accounts: Revenue Expense (d) (e) (g) Debit (h) (f) Debit () (k) Debit Credit

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