A debit would make which of the following accounts increase?
A)Common Stock
B)Inventory
C)Notes Payable
D)Retained Earnings

Question

Quizplus · Accepted Answer

Use debits for increases in assets (and for decreases in liabilities and stockholders' equity accounts).Use credits for increases in liabilities and stockholders' equity accounts (and for decreases in assets).Inventory is an asset account and,as such,it increases with a debit.The other accounts are on the right side of the accounting equation and increase with credits.

A Debit Would Make Which of the Following Accounts Increase