| A | B |
|---|
| temporary capital accounts | revenue, expenses, withdrawals |
| permanent accounts | assets, liabilities, capital |
| used for one fiscal period | temporary capital accounts |
| continuous from one accounting period to the next | permanent accounts |
| side used to increase the account balance | normal balance side |
| debit balance | normal balance for an expense |
| credit balance | normal balance for a revenue |
| revenue recognition | revenue recognized on the date earned, not date received |
| withdrawals | recorded as debits |
| capital account | amount of owner's investment or equity |
