3) State the increase side (debit or credit) for each of the following accounts. a. Inventory b. Retained earnings c. Cash d. Accounts Payable e. Dividends f. Land 9. Supplies h. Common Shares i. Service Revenue J. Accounts Receivable

3) State the increase side (debit or credit) for each of the following accounts. a. Inventory b. Retained earnings c. Cash d. Accounts Payable e. Dividends f. Land 9. Supplies h. Common Shares i. Service Revenue J. Accounts Receivable

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter3: Analyzing And Recording Transactions

Section: Chapter Questions

Problem 29MC: Which of the following accounts is increased by a debit? A. Common Stock B. Accounts Payable C....

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Concept explainers

Bookkeeping

Bookkeeping is the process of recording the financial transactions of a company on a regular basis. With the process of bookkeeping, companies can track important financial information that helps management in making crucial decisions.

Question

3) State the increase side (debit or credit) for each of the following accounts. a. Inventory
b. Retained earnings
c. Cash
d. Accounts Payable
e. Dividends
f. Land
g. Supplies
h. Common Shares
i. Service Revenue
j. Accounts Receivable

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