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Identify the Equation Element (Asset, Liability, Owner's Capital, Owner's Drawing

Question 191

Essay

Identify the equation element (asset, liability, owner's capital, owner's drawing, revenue, or expense), the normal balances (debit or credit), and which side shows an increase and which side shows a decrease for the following accounts. Complete the table. Identify the equation element (asset, liability, owner's capital, owner's drawing, revenue, or expense), the normal balances (debit or credit), and which side shows an increase and which side shows a decrease for the following accounts. Complete the table.

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