Purchase of supplies on account has an effect on the following accounts

Debit is always equal to credit.

When revenue increases, capital decreases.

An increase in unearned revenue account are recorded on the credit side.

An increase in unearned revenue account are recorded on the credit side.

The entry to record payment of liability has debit to

The following accounts have normal balances on the debit side except,

The following accounts have normal balances on the credit side except,

An increase in expense accounts is a

An increase in prepaid rent is a

An increase in Revenue account is a

An increase in Unearned Revenue is a

A decrease in accounts payable is a

An increase in Withdrawal is a

An increase in Accrued income is a

The normal balance is the side of the account that is decreased when there is transaction.

A company using the accrual method of accounting performed services on account in August. The services were for 2,000 and the company gave the customer credit terms that state the amount is to be paid to the company in September.

Assuming that the company prepares monthly income statements, what will be the account debited for 2,000 in August?

Received cash from the customer for payment of services rendered last month increases or decreases the

The owner of the business invests 100,000, the double entry posting to the capital account is a