As per double entry rules, when will you DEBIT? a. If there is decrease in asset b. If there is decrease in expenses c. If there is increase in asset d. If there is increase in liability

Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter3: Analyzing And Recording Transactions
Section: Chapter Questions
Problem 26MC: What is the impact on the accounting equation when an accounts receivable is collected? A. both...
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As per double entry rules, when will you DEBIT?
a. If there is decrease in asset
b. If there is decrease in expenses
c. If there is increase in asset
d. If there is increase in liability
Transcribed Image Text:As per double entry rules, when will you DEBIT? a. If there is decrease in asset b. If there is decrease in expenses c. If there is increase in asset d. If there is increase in liability
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