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Accounting bookkeep1

Accounting Bookkeeping

QuestionAnswer
An entry on the right side of an account Credit
Will increase and asset account Debit
Will decrease the balance in Account Payable. Debit
A general journal entry will have this listed first. Debit
The normal balance for Rent Expense Debit
To decrease Accounts Receivable Credit
The expected balance in Prepaid Insurance. Debit
A negative Cash balance will have this account balance. Credit
Will increase the account Inventory. Debit
The expected balance in the account Petty Cash. Debit
The usual entry for an expense. Debit
Will increase a liability account. Credit
An entry on the left side of an account. Debit
A revenue account's normal balance. Credit
Created by: itucker39