According to the rules of debit and credit for balance sheet accounts?
A. Increase in assets, liabilities and owner equity recorded by debit
B. Decrease in asset and liability are recorded by credit
C. Increase in asset and owner’s equity are recorded by debit
D. Decrease in liability and owner’s equity are recorded by debit
Answer:D
According to the rules of debit and credit for balance sheet accounts?
A. Increase in assets, liabilities and owner equity recorded by debit B. Decrease in asset and liability are recorded by credit C. Increase in asset and owner’s equity are recorded by debit D. Decrease in liability and owner’s equity are recorded by debit