Quiz 1: Debit/Credit balance, increase/decrease

Revenue accounts normally have a _______ balance.

• debit

• credit

To increase Prepaid Rent, you _______ it.

• debit

• credit

When you credit Accounts Payable, it will _______..

• increase

• decrease

Asset accounts normally have a _______ balance.

• debit

• credit

When you credit Salaries Expense, it will _______.

• increase

• decrease

To decrease Property, Plant & Equipment, you _______ it.

• debit

• credit

When you debit Accounts Receivable, it will _______..

• increase

• decrease

Notes Payable normally has a _______ balance.

• debit

• credit

To increase Owner’s Equity, you _______ it.

• debit

• credit

Inventory normally has a _______ balance.

• debit

• credit