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What else can I help you with?
Is liability credit or debit?
Increase liabilities = credit Decrease labilities = debit
Is inventory a credit or debit?
Inventory is an asset, and so it is a debit to increase, and a credit to decrease.
Is a Decrease in Interest Receivable a credit or debit?
a decrease in a receivable is a decrease in an asset therefore its a credit.
Is a decrease in interest payable a credit or debit?
credit
Is a decrease in prepaid rent a debit or a credit?
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.
A decrease to accounts payable is a debit or credit?
debit
Is liability credit or debit?
Increase liabilities = credit Decrease labilities = debit
Is inventory a credit or debit?
Inventory is an asset, and so it is a debit to increase, and a credit to decrease.
Is a Decrease in Interest Receivable a credit or debit?
a decrease in a receivable is a decrease in an asset therefore its a credit.
What is Decrease in Prepaid Rent a credit or debit?
. Credit
Is a decrease in interest payable a credit or debit?
credit
Is Decrease in Unearned Rent Revenue a credit or debit?
Debit
Is a decrease in prepaid rent a debit or a credit?
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.
Is land a credit or debit?
Debit - expense or asset Credit - income or liability As land is an asset, it is a debit entry with the credit being to Bank/Cash/Sellor of the land
Do liability accounts increase on the credit side?
Yes, liabilities maintain a "credit" balance, which means they will increase with a credit and decrease with a debit. For example, if you purchase land on credit, the Note Payable is a liability and is increased with the credit. The book transaction may look something like:Land (debit) $50,000Note Payable - Land (credit) $50,000
Are accounts receivable a debit or credit?
Accounts receivable is a debit.Answer:Accounts receivable is an asset and therefore maintains a debit balance. This is an account listing what a person or company owes you, or money that you expect to receive. Since it is an asset (all assets maintain a debit balance) it means to increase the account you debit it and to decrease it (when a payment is made by the customer) you credit it.Assets = debit balance (increase with debit, decrease with credit)Liabilities and Owners Equity = credit balance (increase with a credit, decrease with a debit)(GAAP)
What is the role of debit and credit?
increase items in business we use debit. decrease items in business we used credit
