The following table summarizes the rules of debit and credit. Indicate whether the proper answer is a debit or a credit. Increase Normal Balance Balance sheet accounts: Asset Liability Owner's equity: Capital Drawing Income statement accounts: Revenue Expense Credit Credit Decrease Credit Credit Credit Debit

The following table summarizes the rules of debit and credit. Indicate whether the proper answer is a debit or a credit. Increase Normal Balance Balance sheet accounts: Asset Liability Owner's equity: Capital Drawing Income statement accounts: Revenue Expense Credit Credit Decrease Credit Credit Credit Debit

College Accounting (Book Only): A Career Approach

12th Edition

ISBN:9781305084087

Author:Cathy J. Scott

Publisher:Cathy J. Scott

Chapter2: T Accounts, Debits And Credits, Trial Balance, And Financial Statements

Section: Chapter Questions

Problem 2E: List the classification of each of the following accounts as A (asset), L (liability), OE (owners...

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