Answered: Directions: Complete the table by…

Directions: Complete the table by identifying whether the normal account balanc falls under debit or credit. Write D for debit and C for credit on a separate sheet of paper.

Financial And Managerial Accounting

15th Edition

ISBN:9781337902663

Author:WARREN, Carl S.

Publisher:WARREN, Carl S.

Chapter2: Analyzing Transactions

Section: Chapter Questions

Problem 4E: Rules of debit and credit The following table summarizes the rules of debit and credit. For each of...

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Question

Directions: Complete the table by identifying whether the normal account balance
falls under debit or credit. Write D for debit and C for credit on a separat
sheet of paper.
Normal Account
Balance
1. Assets
2. Liabilities
3. Owner's Equity
4. Income
5. Expenses

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