Problem 2-58B Debit and Credit Procedures
A list of accounts for Montgomery Inc. appears below.
Required:
Complete the table below for these accounts. The information for the first account has been entered as an example.
Normal Balance:
A normal balance is the usual and expected balance to be shown on the debit or credit side of a particular account. The normal balance of asset and expense accounts is shown on the debit side and liabilities and equity accounts are shown on the credit side.
Complete the table for the given accounts.
Particular | Increase | Decrease |
Assets | Debit | Credit |
Liabilities | Credit... |
Financial & Managerial Accounting
Corporate Financial Accounting
Accounting Information Systems
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