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Indicate Whether You Would Use a Debit or a Credit

Question 126

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Indicate whether you would use a debit or a credit to record the following changes:

Premises:
A decrease in Office Supplies.
A decrease in Accounts Receivable.
An increase in Owner's Drawings.
An increase in Prepaid Insurance.
An increase in Salary Expense.
An increase in Rent Expense.
An increase in Owner's Capital.
A decrease in Store Equipment.
An increase in Service Revenue.
A decrease in Accounts Payable.
Responses:
Depit
Credit

Correct Answer:

A decrease in Office Supplies.
A decrease in Accounts Receivable.
An increase in Owner's Drawings.
An increase in Prepaid Insurance.
An increase in Salary Expense.
An increase in Rent Expense.
An increase in Owner's Capital.
A decrease in Store Equipment.
An increase in Service Revenue.
A decrease in Accounts Payable.
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