Which pair of accounts follows the rules of debit and credit in the same manner?
A)Dividends 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

Both Prepaid Insurance and Advertising Expense are asset accounts, and they follow the same rules of debit and credit: increase with a debit and decrease with a credit.

Which Pair of Accounts Follows the Rules of Debit and Credit