To debit an account is to enter an amount on the left side of the account.
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Q8: The trial balance is used in preparing
Q9: At least two accounts are affected by
Q10: When debits equal credits for a transaction,the
Q11: The difference between the footings of an
Q12: The sum of the debits must equal
Q14: Prepaid Insurance is an asset account.
Q15: The fact that each transaction has a
Q16: A credit increases liabilities and owner's equity.
Q17: Liability accounts normally have debit balances.
Q18: Expense accounts normally have debit balances.
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