YouScience Accounting 1 Study Guide

To decrease the account balance of a liability account, you would.....

• debit the account

• credit the account

• increase the account

• close the account

To decrease the account balance of the owner's capital account, you would.....

• debit the account

• credit the account

• close the account

• increase the account

To decrease the account balance of an expense account, you would.....

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To increase the account balance of an owners capital account, you would.....

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To increase the account balance of an sales account, you would.....

• credit the account

• debit the account

• close the account

• ignore the account

To decrease the account balance of an sales account, you would.....

• debit the account

• credit the account

• close the account

• reconcile the account

To increase the account balance of an asset account, you would.....

• debit the account

• credit the account

• close the account

• ignore the account

To increase the account balance of an liability account, you would.....

• credit the account

• debit the account

• close the account

• ignore the account

To decrease the account balance of an asset account, you would.....

• credit the account

• debit the account

• close the account

• reconcile the account

What is the normal balance of the Accounts Payable account?

• Credit

• Debit

• Both debit and credit

• No balance