Which of the following accounts is decreased with a credit?
A)Unearned Revenue
B)Prepaid Insurance
C)Accounts Payable
D)Service Revenue

Question

Quizplus · Accepted Answer

Debits increase asset accounts;credits decrease asset accounts.Debits decrease liability and stockholders' equity accounts;credits increase liability and stockholders' equity accounts.Prepaid insurance,an asset account,is decreased with a credit.

Which of the Following Accounts Is Decreased with a Credit