Which of the following accounts is increased with a debit entry?Question 20Answera.Revenueb.Accounts Payablec.Accounts Receivabled.Share Capital
Question
Solution 1
The account that is increased with a debit entry is c. Accounts Receivable.
Here's why:
In accounting, the basic principle is that every transaction has a debit and a credit. The way these debits and credits affect different accounts, however, depends on the type of account.
a. Revenue: This is Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study prob
Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solv
Similar Questions
Which of the following accounts is increased with a debit entry?Question 20Answera.Revenueb.Accounts Payablec.Accounts Receivabled.Share Capital
A company sells merchandise to a customer on credit. The journal entry to record this transaction would include a debit to the Accounts account.
Which of the following accounts CANNOT be altered by a consolidation adjusting entry?a.Accounts receivableb.Income tax payablec.Deferred tax assetd.Revenue
A debit is not the normal balance for which account listed below? Group of answer choices Dividends Cash Accounts Receivable Service Revenue
9. An entry that results in a debit to an expense account and a credit to a related liability account is an example of which category of adjusting entries?