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Indicate whether a debit or credit decreases the normal balance of each of the following accounts.

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Indicate whether a debit or credit decreases the normal balance of each of the following accounts.;Office Supplies- debit;Repair Service Revenue- debit;Interest Payable- debit;Accounts Receivable- creditSalaries Expense- debit;Owner Capital- credit;Prepaid Insurance- debit;Buildings-debit;Interest Revenue-credit;Owner Withdrawals-debit;Unearned Revenue-credit;Account Payable-debit;Identify whether a debit or credit yields the indicated change for each of the following accounts.;To increase Store Equipment- debit;To increase Owner Withdrawals- credit;To decrease Cash- debit-;To increase Utilities Expense- debit;To increase Fees Earned- credit;To decrease Unearned Revenue-debit;To decrease Prepaid Insurance- debit;To increase Notes Payable- debit;To decrease Account Receivable- credit;To increase Owner Capital- credit;Identify whether the normal balances (in parentheses) assigned to the following accounts are correct or incorrect.;Office supplies (Debit)- correct;Owner Withdrawals (Credit)- correct;Fees Earned (Debit)- correct;Wages Expense (Credit);Cash (Debit)- correct;Prepaid Insurance(Credit)- correct;Wages Payable (Credit)- correct;Building (Debit)-correct

 

Paper#26779 | Written in 18-Jul-2015

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