Which of the following accounts should be debited in a journal entry?
A)Accounts Receivable,when it has been decreased.
B)Dividends,when it has been increased.
C)Wages Payable,when it has been increased.
D)All of these choices.

Question

Quizplus · Accepted Answer

In accounting, a debit entry is used to record increases in assets and expenses and decreases in liabilities, equity, and income. Therefore, when dividends are increased, it represents a distribution of earnings to shareholders, which decreases retained earnings (an equity account), and thus, the Dividends account should be debited. Accounts Receivable is an asset account, so it would be credited, not debited, when decreased. Wages Payable is a liability account, so it would be credited, not debited, when increased.

Which of the Following Accounts Should Be Debited in a Journal