Which pair of the listed accounts follows the rules of debits and credits in relation to increases and decreases in the same manner?
A)Salaries and Wages Expense and Notes Payable
B)Common Stock and Rent Expense
C)Prepaid Rent and Advertising Expense
D)Service Revenue and Equipment

Question

Quizplus · Accepted Answer

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

Which Pair of the Listed Accounts Follows the Rules of Debits