Debits & Credits

What is the account classification of cash?

• Asset

• Liability

• Owner's Equity

• Revenue

What is the account classification of supplies?

• Asset

• Liability

• Owner's Equity

• Expense

What is the account classification of prepaid insurance?

• Asset

• Liability

• Owner's Equity

• Revenue

What is the account classification of accounts receivable?

• Asset

• Liability

• Owner's Equity

• Expense

What is the account classification of accounts payable?

• Asset

• Liability

• Owner's Equity

• Expense

What is the account classification of owner's capital?

• Asset

• Liability

• Owner's Equity

• Revenue

What is the account classification of owner's drawing?

• Asset

• Liability

• Owner's Equity

• Expense

What is the account classification of an expense?

• Asset

• Liability

• Owner's Equity

• Expense

What is the account classification of sales?

• Asset

• Liability

• Owner's Equity

• Revenue

To increase cash

• Debit

• Credit