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Melinda's Magic Store Has Balances in the Following Accounts at the End

Question 95

Essay

Melinda's Magic Store has balances in the following accounts at the end of May. For each of the accounts indicate:
a. the type of account (Asset, Liability, Owner's capital, Owner's drawings, Revenue, Expense),
b. the debit and credit effects, and
c. the normal account balance.
Melinda's Magic Store has balances in the following accounts at the end of May. For each of the accounts indicate: a. the type of account (Asset, Liability, Owner's capital, Owner's drawings, Revenue, Expense), b. the debit and credit effects, and c. the normal account balance.

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1. a. Asset account.
b. Debit increase...

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