Merchandising: Debits and Credits Practice Spring Semester

Front

Cash increase

Back

debit

Front

Accounts payable increase

Back

credit

Front

Supplies increase

Back

debit

Front

Cash decrease

Back

credit

Front

Accounts receivable increase

Back

debit

Front

Sales Discounts Normal Balance

Back

Debit

Front

All sales will always have a sales tax credit associated with them.

Back

false

Front

Supplies decrease

Back

credit

Front

Sales increase

Back

credit

Front

Credit Memorandum
Options: Debit Cash, Credit Cash, Debit A/R, Credit A/R

Back

Credit A/R