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Be careful not to lift or move the individual

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11y ago

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What would decrease liability?

Debit balance would decrease the liability as credit balance increases the liability.


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The accounts payable balance is a credit, so a debit to this account will decrease the balance.


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Prepaid Rent is an asset, therefore to decrease the asset (or use up the rent) a decrease would be a credit. Assets generally maintain a debit balance, which means to increase the balance we debit and to decrease the balance we credit.


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