Debits And Credits

Capital increase

• debit

• credit

Accounts payable increase

• debit

• credit

Supplies increase

• debit

• credit

Cash decrease

• debit

• credit

Prepaid insurance increase

• debit

• credit

Sales increase

• debit

• credit

Accounts receivable decrease

• debit

• credit

Any asset increase

• debit

• credit

All of the following statements are correct, except for?

• Increases in assets and expenses are debited

• Decreases in assets and expenses are credited

• Increases in liabilities and owner's equity are debited

• Decreases in revenues are debited

Normal balance of Supplies

• debit
• credit