1. Briefly discuss the concept of debit and credit with regard to the accounting equation. 2. What is the difference between a journal and a ledger? 3. Identify which types of accounts have a normal...

1. Briefly discuss the concept of debit and credit with regard to the accounting equation.

2. What is the difference between a journal and a ledger?

3. Identify which types of accounts have a normal debit balance and which types of accounts have a normal credit balance.