1. If an asset account is increased with a debit, what is the logic for increasing a liability account with a credit? (Appendix) 2. The payment of dividends reduces cash. If the Cash account is...

1. If an asset account is increased with a debit, what is the logic for increasing a liability account with a credit? (Appendix)

2. The payment of dividends reduces cash. If the Cash account is reduced with a credit, why is the Dividends account debited when dividends are paid? (Appendix)

May 26, 2022