Question
Asked Dec 10, 2019
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Complete the following table by indicating for (a) through (g) whether the proper answer
is debit or credit:
Normal
Decrease
Balance
Account
Increase
Purchases
debit
(a)
(b)
Purchases Discounts
credit
(c)
credit
Purchases Returns and Allowances
(d)
(e)
(f)
Freight In
debit
(g)
debit
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Complete the following table by indicating for (a) through (g) whether the proper answer is debit or credit: Normal Decrease Balance Account Increase Purchases debit (a) (b) Purchases Discounts credit (c) credit Purchases Returns and Allowances (d) (e) (f) Freight In debit (g) debit

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Rules of Debit and Credit: Following rules are followed for debiting and crediting different accounts while they occur in business transactions: • Debit, all increase in assets, expense, dividends, and owner's drawing accounts, and all decrease in liabilities, revenues and owner's capital accounts. • Credit, all increase in liabilities, revenues, and owner's capital accounts, and all decrease in assets, expenses, and owner's drawing account.

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