| A | B |
|---|
| debit | The normal balance side of any expense account is the ______side. |
| credit | Owner's capital account has a normal ______balance. |
| credit | Each liability account has a normal ______balance. |
| increases | The balance of an account________ (increases, decreases) on the same side as the normal balance side. |
| debit | An amount recorded on the left side of a T account is a _______. |
| two | Each transaction changes the balances in at least ____accounts. |
| chart of accounts | A list of accounts used by a business is a ________. |
| debit | Cash is an asset account with a normal _____balance. |
| credit | Capital is an owner's equity account with a normal _______balance. |
| debit | When cash is paid for supplies, the supplies account is increased by a _______. |
| drawing | The balance of a _______ account represent the total value of assets taken out of a business by the owner. |
| right | The ______side of a liability account is the normal balance side because liabilities are on the _____side of the accounting equation. |
| left | The _____side of an asset account is the debit side because assets accounts are on the ______side of the accounting equation. |
| debits | Increased in expense accounts are recorded as ______because they decrease the owner's capital account. |
| increase | Increases in revenue accounts are recorded as credits because they ________(increase, decrease) the owner's capital account. |
| debit | The normal balance side of an accounts receivable account is a _______. |
| credit | The normal balance side of an accounts payable account is a _______. |
| debit | Cash is increased with a _____. |
| debit | Advertising Expense is increased with a ______. |
| debit | Christine Jones, Drawing is increased with a ______. |
| debit | An amount recorded on the left side of a T account is a _____. |
| credit | Prepaid Insurance is decreased with a ______. |
| increased by a credit | When the owner invests cash in a business, the owner's capital account is ____. |
| increased by a debit | When a business pays for insurance, Prepaid Insurance is ______. |
| on account | When a business buys an asset on one date and agress to pay on a later date, the tranaction is ____. |
| decreased by a debit | When a business pays cash on account, a liability account is _____. |
| increased by a credit | When a business receives revenue, Sales is ______. |
| Rent Expense | The amount paid for rent is recorded as a debit to ______. |
| debit balance | A drawing account has a normal _______. |
| debit | Each asset account has a normal ______balance. |
