Asset accounts normally have credit balances and expense accounts normally have debit balances.
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Q21: A transaction that increases an asset account
Q22: The chart of accounts is a list
Q23: Purchasing supplies on credit increases assets while
Q24: When a business sends a bill for
Q25: If a company sells products and receives
Q27: Debits to accounts are normally decreases.
Q28: The normal balance of an account refers
Q29: If a company purchases land, paying part
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Q31: A compound journal entry usually affects three
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