The supplies expense account
A) Normally has a credit balance
B) Is increased with a credit entry
C) Is increased with a debit entry
D) Is decreased with a debit entry
Correct Answer:
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Q19: If a company purchased equipment for cash,
Q20: Borrowing money from a bank
A) Increases assets
Q21: Which of the following accounts is decreased
Q22: When accounts receivable are collected,
A) Total assets
Q23: When a note payable is given to
Q25: Revenue accounts are
A) Increased with debit entries
B)
Q26: An entry to the right side of
Q27: Which of the following groups of accounts
Q28: Expense and revenue accounts can be considered
Q29: Usually, when accounts receivable are collected, an
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