Which of the statements of the rules of debit and credit is TRUE?
A) Decrease Accounts Receivable with a credit and the normal balance is a credit.
B) Increase Accounts Payable with a credit and the normal balance is a credit.
C) Increase Capital with a debit and the normal balance is a debit.
D) Decrease Cash with a debit and the normal balance is a debit.

Question

Quizplus · Accepted Answer

Accounts Payable is a liability account, and like all liability accounts, it is increased by credits and has a normal credit balance.

Which of the Statements of the Rules of Debit and Credit