In which of the following types of accounts are decreases recorded by credits?
A) liabilities
B) owner's capital
C) drawing
D) revenues

Name: In which of the following types of accounts are decreases recorded by credits? A) liabilities B) owner's capital C) drawing D) revenues
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Question

Quizplus · Accepted Answer

Decreases in drawing accounts are recorded by credits because drawing accounts are contra-equity accounts, which normally have a debit balance.

In Which of the Following Types of Accounts Are Decreases