Which pair of accounts follows the rules of debit and credit, in relation to increases and decreases, in the same manner
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Question “Which pair of accounts follows the rules of debit and credit, in relation to increases and decreases, in the same manner”
Which pair of accounts follows the rules of debit and credit, in relation to increases and decreases, in the same manner?
A. Accounts Payable and Rent Expense
B.Repair Expense and Notes Payable
C.Prepaid Insurance and Advertising Expense
D.Service Revenues and Equipment
Answer
Answer 1
Accounts payable and Rent Expense
Answer 2
Hi,
You have two options: Repair Expense or Notes Payable.
Thanks.
Answer 3
1) Common stock is a Balance SheetAccount, while Rent Expenseis a P&LAccount. One is a Creditnormal account, the other is debit. One is a Debit balance normal, the other is credit.
Answer 4
Prepaid Rent and Advertising Costs
Both accounts have a normal debit balance, which means that both accounts are debited when each account is increased.
Answer 5
Advertising and Prepaid Insurance
Answer 6
[REMOVED]
Conclusion
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