When an owner invests assets in the business, the capital account increases due to revenue being earned.
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Q29: When a business receives a bill from
Q30: Owner's equity will be reduced by the
Q31: When an account receivable is collected in
Q32: Expense accounts are increased by credits.
Q33: Withdrawals decrease owner's equity and are listed
Q35: When an account payable is paid with
Q36: Liabilities are debts owed by the business
Q37: A drawing account represents the amount of
Q38: Expenses result from using up assets or
Q39: The normal balance of the drawing account
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