Which type of account is credited when a company records a debt?
A) liability
B) asset
C) expense
D) retained earnings
Correct Answer:
Verified
Q26: The normal balance of the Supplies account
Q27: Which type of account is credited when
Q28: A credit decreases the balance of which
Q29: Accounting transactions are first recorded in a
Q30: When a business sells inventory in exchange
Q32: The payment for rent of the office
Q33: Credits to revenue accounts ultimately result in:
A)
Q34: What type of account is Prepaid Rent?
A)
Q35: An owners' investment of land and a
Q36: The normal balance of the Common Shares
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