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Why are expenses increased with a debit

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Reference no: EM132930253

Problem 1: Why are expenses increased with a debit?

a. They are always paid by cash, which is credited. Thus expenses are debited.

b. They decrease owners' equity which is on the right hand (credit) side of the balance sheet equation.

c. They have the same rules of debits and credits as the retained earnings account.

d. None of the statements above is correct.

Reference no: EM132930253

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