Which pair of accounts follows the rules of debit and credit in relation to increases and decreases in the same manner?
A)Dividends Payable and Rent Expense
B)Utilities Expense and Notes Payable
C)Prepaid Insurance and Advertising Expense
D)Service Revenue and Equipment

Question

Quizplus · Accepted Answer

Both Prepaid Insurance and Advertising Expense are asset accounts, and they follow the same rules: debits increase and credits decrease.

Which Pair of Accounts Follows the Rules of Debit and Credit