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3 years ago

7

For the following, mark a "D" if the following account normally has a debit balance and mark a "C" if the following account norm

ally has a credit balance. 1. Notes Payable 2. Mortgage Payable 3. Drawing 4. Accounts Receivable 5. Capital 6. Rent Revenue 7. Unearned Revenue 8. Utility Expense 9. Automobiles

1 answer:

otez555 [7]3 years ago

7 0

1.Notes Payable D

2. Mortgage Payable D

3. Drawing D

4.Accounts Receivable C

5. Capital C

6. Rent Revenue C

7. Unearned Revenue C

8. Utility Expense D

9. Automobiles

Explanation:

1.Notes Payable D

2. Mortgage Payable D

3. Drawing D

4.Accounts Receivable C

5. Capital C

6. Rent Revenue C

7. Unearned Revenue C

8. Utility Expense D

9. Automobiles

A debit is an accounting entry that may either increases an asset or expense account,
It also decreases a liability or equity account.
A credit is an accounting entry that may either increases a liability or equity account,
It also decreases an asset or expense account.

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