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.....

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

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