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

Question

Quizplus · Accepted Answer

A debit is used to record an increase in accounts such as cash, supplies, and prepaid insurance. However, accounts payable is a liability account that is increased by a credit, not a debit. Owner's withdrawals is also a separate equity account that is decreased by a debit, not increased.

A Debit Is Used to Record an Increase in All