A debit is used to record an increase in all of the following accounts except:
A)Supplies
B)Cash
C)Accounts Payable
D)Owner's Withdrawals
E)Prepaid Insurance

Name: A debit is used to record an increase in all of the following accounts except: A)Supplies B)Cash C)Accounts Payable D)Owner's Withdrawals E)Prepaid Insurance
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Question

Quizplus · Accepted Answer

Accounts Payable is a liability account, and an increase in liabilities is recorded with a credit, not a debit.

A Debit Is Used to Record an Increase in All