Short Answer
Fill in the blanks with debit or credit to complete the following sentences correctly.
a. Assets are increased by a _______________.
b. Liabilities are increased by a ______________.
c. The normal balance of a revenue account is a _______________.
d. A ______________ would decrease a liability account.
e. The normal balance of the drawings account is a ______________.
f. A ______________ would increase an expense account.
Correct Answer:

Verified
Correct Answer:
Verified
Q1: Prepare journal entries in good form for
Q2: What are the normal balances of the
Q4: Which of the following accounts would be
Q5: Should the following transactions be recorded and
Q6: Assets and liabilities are both decreased by
Q7: Assets = Liabilities + Owner's Capital -
Q8: To debit an account, an amount is
Q9: Owner's equity is increased by owner's investments
Q10: A purchase of office equipment for cash
Q11: The ledger is also known as the