Which of the accounts are decreased on the debit side and increased on the credit side?

Social Studies

1 answer:

Katarina [22]4 years ago

4 0

Answer:

In the income statement, the income accounts. In the balance sheet, the liabilities and equity.

Explanation:

These accounts are opposite to expenses, in the case of the income statement; and to assets, in the case of balance sheet. When an income is registered, a credit increases this account, and as a counterpart, a debit increases assets (if a sales were made in cash).

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