1. What is the effect (increase or decrease) of a debit to an expense account (a) in terms of stockholders’ equity and (b) in terms of expense? 2. What is the effect (increase or decrease) of a credit...

1. What is the effect (increase or decrease) of a debit to an expense account (a) in terms of stockholders’ equity and (b) in terms of expense?

2. What is the effect (increase or decrease) of a credit to a revenue account (a) in terms of stockholders’ equity and (b) in terms of revenue?

May 26, 2022

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