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please and explain so I can understand.
Indicate whether a debit or credit decreases the normal balance of each of the following accounts:

a. Office Supplies debit
b. Repair Services Revenue credit
c. Interest Payable credit
d. Accounts Receivable credit
e. Salaries Expense debit
f. Owner Capital increase credit
g. Prepaid Insurance debit
h. Buildings ?
I. Interest Revenue credit ?
j. Owner Withdrawals debit
k. Unearned Revenue credit
l. Accounts Payable ?

2 Thoughts on I am veryu confused, I think I have the ones answered correct but I do not know about some of the others. Help
  1. Reply
    USM987
    September 2, 2011 at 1:08 am

    a. increases (assets > w/ debits)
    b. increases (revenue > w/ credits)
    c. increases (liabilities > w/ credits)
    d. decreases (assets > w/ credits)
    e. increases (expenses > w/debits)
    f. increases (stockholders equity > w/ credits)
    g. decrease (revenue)
    h. same as “a”
    i. increases (acts the same as “b”)
    j. increases (expense)
    k. decreases
    l. same as “c”

    Hope this helps

  2. Reply
    txmagic61
    September 2, 2011 at 1:29 am

    The simplest way to remember is to break it down by category. Assets: Debit to increase, credit to decrease; Liabilities & Equity: Credit to increase, debit to decrease; Income: Credit to increase, debit to decrease; Expenses: debit to increase, credit to decrease.

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