Accounting


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Debits and Credits

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If you have difficulty answering the following questions, learn more about this topic by reading our Explanation of Debits and Credits.



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Word Clue
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Answer
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Answer
 1. Liability accounts are decreased with a ________. TBDIE DEBIT
 2. A credit will increase the balance in a _________ account. EERUNEV REVENUE
 3. Credits are entered on the _________ side of a T-account. HRTGI RIGHT
 4. The accounting equation remains in balance due to ________-entry bookkeeping. UBOLED DOUBLE
 5. Debits are entered on the ______ side of a T-account. FETL LEFT
 6. Asset account balances are reduced by a _________ entry. ECDTRI CREDIT
 7. The accounting _________ should always be in balance. AETQNUOI EQUATION
 8. The book of original entry. AUJLNOR JOURNAL
 9. Revenues cause an increase in owner's _________. IUTQEY EQUITY
10. These cause owner's equity to decrease. PESSXNEE EXPENSES
11. The amount entered on the right side of a T-account. RIDCTE CREDIT
12. _____________ are income statement accounts with debit balances. NEEXESSP EXPENSES
13. Accounts _______________ is a balance sheet account with a debit balance. VALEBEREIC RECEIVABLE
14. _______________ Depreciation is a balance sheet account with a credit balance. DAMUTEACCUL ACCUMULATED
15. The Retained Earnings account will be reduced with a __________ entry. BDITE DEBIT
16. ______________ are income statement accounts with credit balances. VUENSEER REVENUES
17. A sole proprietor's ___________ account will have a debit balance. AGRINDW DRAWING
18. Accounts _____________ is a balance sheet account with a credit balance. ALEABPY PAYABLE
19. A ________ balance is an internal report to show that the general ledger's debit balances add up to the same total as the credit balances. IRLAT TRIAL
20. The requirement that each journal entry needs to have at least one debit and one credit is known as __________-entry bookkeeping. OBUEDL DOUBLE



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