This exercise will test your understanding of the debit and credit rules.


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This exercise will test your understanding of the debit and credit rules. 1 answer below » This exercise will test your understanding of the debit and credit rules. A list of accounts appears below: View complete question » Debit Credit 1. Cash √ 2. Sales Revenue 3. Commissions Expense 4. Advertising Expense 5. Salaries and Wages Payable 6. Prepaid Insurance 7. Property Taxes Payable 8. Property Tax Expense 9. Dividends 10. Interest Revenue 11. This exercise will test your understanding of the debit and credit rules. A list of accounts appears below: Debit Credit 1. Cash √ 2. Sales Revenue 3. Commissions Expense 4. Advertising Expense 5. Salaries and Wages Payable 6. Prepaid Insurance 7. Property Taxes Payable 8. Property Tax Expense 9. Dividends 10. Interest Revenue 11. Salaries and Wages Expense 12. Commissions Revenue 13. Unearned Service Revenue 14. Equipment 15. Note Payable 16. Building 17. Accounts Payable 18. Land 19. Accounts Receivable 20. Common Stock Instructions For each account, put a check mark (√) in the appropriate column to indicate if it is increased by an entry in the debit (left) side of the account or by an entry in the credit (right) side of the account. The first one is done for you. TIP: In essence, you are being asked to identify the normal balance of each of the accounts listed. The normal balance of an account is the side where increases are recorded. View less » Jun 10 2014 05:51 PM

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