increase owner's equity and decrease liabilities B. increase net income and decrease assets C. decrease assets and owner's equity D. increase assets and decrease owner's equity Earning revenue: a. increases assets, increases owner's equity...
State whether the normal balance is a debit or credit balance. Is the cash account an asset, a liability, or an owner's equity account? Does a debit or a credit represent an increase? State whether the normal balance is a ...
you include sales made on credit as revenue, as long as you have given the goods or services to the customer. In thecash method of accounting, you only include sales as revenue if the customer has paid you.