Complete the following statements using either "debit" or "credit":
a. The cash account is increased with a _______ .
b. The owner's capital account is increased with a _________ .
c. The delivery equipment account is increased with a _________ .
d. The cash account is decreased with a _________ .
e. The liability account Accounts Payable is increased with a ___________ .
f. The revenue account Delivery Fees is increased with a __________ .
g. The asset account Accounts Receivable is increased with a _________ .
h. The rent expense account is increased with a ___________ .
i. The owner's drawing account is increased with a ___________ .

Respuesta :

Answer:

a Debit

b Credit

c Debit

d Credit

e Credit

f Credit

g Debit

h Debit

i Debit

Explanation:

The rules are that increase in assets such as cash account ,delivery equipment,accounts receivable are debited while the reverse is done for reduction in assets.

The increase in liability accounts and revenue such as accounts payable and revenue account delivery fees are normally credited while the reverse applies to decrease in liabilities.

The increase in expense is normally debited while the reduction in expense is a credit.

The increase in capital account is a credit