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

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

3. Each asset account has a normal _____ balance.
DEBIT

4. Each liability account has a normal _____ balance.
CREDIT

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

6. Asset accounts increase on the ______ side.
DEBIT

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

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

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

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

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

12. A drawing account is increased with a _____.
DEBIT

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

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

15. Accounts Payable accounts are _____ with a credit.
INCREASED

16. Advertising Expense is ____ with a debit.
INCREASED

17. Cash is decreased with a ___.
CREDIT

18. Prepaid Insurance is ____ with a credit.
DECREASED

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

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

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

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

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

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

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

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

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

28. 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

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