An accounting device used to analyze transactions is a called a/an ____________ T ACCOUNT

An amount recorded on the left side of a T account is a ______ DEBIT

Each asset account has a normal _____ balance. DEBIT

Each liability account has a normal _____ balance. CREDIT

The balance of an account _____ on the same side as the normal balance. INCREASES

Asset accounts increase on the ______ side. DEBIT

Each transaction changes the balance in at least ____ accounts. TWO (2)

A list of accounts used by a business is called a _______________ CHART OF ACCOUNTS

When cash is paid for supplies, the supplies account is increased by a ______. DEBIT

Common accounting practice is to record withdrawals as debits directly in the ______ account. NAME, DRAWING

The left side of an asset account is the ____ side DEBIT

A drawing account is increased with a _____. DEBIT

Increases in expense accounts are recorded as debits because they ______ the owner’s capital account. DECREASE

The normal balance side of an accounts receivable is a _____. DEBIT

Accounts Payable accounts are _____ with a credit. INCREASED

Advertising Expense is ____ with a debit. INCREASED

Cash is decreased with a ___. CREDIT

Prepaid Insurance is ____ with a credit. DECREASED

To summarize withdrawal information separately from the other records, owner withdrawal transactions are recorded in the ____ account. DRAWING

Increases to liability accounts are recorded on the ____ side. CREDIT

The right side of a T account is the ____ side. CREDIT

If an amount is recorded on the side of a T account opposite the normal balance side, the account balance ______. DECREASES

The normal balance side of an asset account is the ___ side. DEBIT

When the owner invests cash in a business, the owner’s capital account is increased by a ____. CREDIT

When a business pays cash on account, a liability account is decreased by a _____. DEBIT

When cash is received from sales, the change in the owner’s equity is usually recorded in a separate ______ account. REVENUE

Increases in a revenue account are shown on a T accounts ____ side. CREDIT

ACCOUNTS RECEIVABLE CASH When $1,500 cash is received on account, ____ is decreased with a credit and ____ is increased with a debit. ACCOUNTS RECEIVABLE CASH

The normal balance side of any expense account is the ____ side. DEBIT