Exam 3: Analyzing Business Transactions Using T Accounts

The increase side of an account represents the ____________________ balance of the account.

The error that occurs when the number $5.00 is written as $50.00 is called a(n) ____________________ error.

Cash Accounts Receivable Office Equipment Office Supplies Accounts Payable Brandon Phipps, Capital Brandon Phipps, Drawing Fees Income Rent Expense Salaries Expense Utilities Expense Read each of the following transactions. Determine the accounts to be debited and credited. -Issued a check to a creditor

A business transaction affects at least two accounts.

A special type of owner's equity account set up to record withdrawals of assets by the owner for personal use is called a(n) ____________________ account.