Businesses use ________________________ to summarize all the information pertaining to a single item.

A drawing account is increased by ______________.

A list of accounts used by a business is a

Accounts Payable accounts are increased with a

Accounts Receivable accounts are increased with a

The owner’s equity account is increased on the ______________ side, because the owner’s capital account has a normal balance on the ________________side.

The left side of a t-account is the

The normal balance of assets

Before a transaction is recorded in the records of a business, it is analyzed to determine which accounts are changed and how.

Common accounting practice is to record withdrawals as debits in the

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

Increases in revenue accounts are recorded as ___________________, because they increase the owner’s capital account.

The balance of an account increases on the same side as

When cash is paid for an expense, cash is

When $1,500 cash is received on account,

The normal balance of Accounts Receivable is

The normal balance of sales is

When we sell something on account, what account is NOT affected