Which pair of accounts follows the rules of debit and credit in the same manner?
A)Accounts Payable and Rent Expense
B)Repair and Maintenance Expense and Bank Loan Payable
C)Prepaid Insurance and Advertising Expense
D)Service Revenue and Accounts Receivable

Question

Quizplus · Accepted Answer

Prepaid Insurance and Advertising Expense both follow the rules of debit and credit for asset and expense accounts, respectively. Both increase with a debit and decrease with a credit.

Which Pair of Accounts Follows the Rules of Debit and Credit