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Indicate the effects of debit and credit on the accounts

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Question - For each of the following accounts indicate the effects of {a} a debit and {b} a credit on the accounts and {c} the normal balance of the account.

Accounts Payable

Advertising Expense

Service Revenue

Accounts Receivable

A.J. Ritter, Capital

A.J. Ritter, Drawing

Transactions for the Hank Norris Company for the month of June are presented below. Identify the accounts to be debited and credited for each transaction.

June 1 Hank Norris invests P5,000 cash in a small welding business of which he is the sole proprietor.

June 2 Purchases equipment on account for P900.

June 3 P800 cash paid to landlord for June rent.

June 12 Bills J. Kronsnoble P300 for welding work done on account.

Reference no: EM132654307

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