A compound journal entry usually affects three or more accounts.
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Q26: Asset accounts normally have credit balances and
Q27: Debits to accounts are normally decreases.
Q28: The normal balance of an account refers
Q29: If a company purchases land, paying part
Q30: Because they decrease equity, withdrawals made by
Q32: A transaction that decreases an asset account
Q32: A revenue account normally has a debit
Q33: A chart of accounts lists the accounts
Q34: Increases in liabilities are recorded as debits.
Q36: Step Two of the accounting cycle requires
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