Owners' equity accounts are decreased with

Name: Owners' equity accounts are decreased with
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Owners' equity accounts are decreased with debit entries, as they represent decreases to assets or increases in liabilities or expenses. When expenses are recorded, the debit is made to an expense account and the offsetting credit is made to either cash or accounts payable, which results in a decrease to owners' equity.

Owners' Equity Accounts Are Decreased with