Question

Fill in the blank

1. Asset accounts typically have _________ __________.

2. ____________ and ___________ ___________ accounts typically have credit balances.

3. An increase in an asset is created by a _________ entry.

4. A decrease in an asset is created by a __________ entry.

5. An ____________ in a liability or owners’ equity account is created by a _________ entry.

6. An ____________ in a liability or owners’ equity account is created by a _________ entry.

7. A _________ entry increases an asset account or decreases a liability or owners’ equity account.

8. A _________ entry increases a liability or owners’ equity account or decreases an asset account.

Answer 1