Chapter 2 Notes - asset accounts normally show debit balances and liability accounts normally show credit balances five subdivisions of

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Chapter 2 Notes When the totals of the two sides of an account are compared, an account will have a debit balance if the total of the debit amounts exceeds the credits. An account will have a credit balance if the credit amounts exceed the debits The normal balance of an account is on the side where an increase in the account is recorded
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Unformatted text preview: asset accounts normally show debit balances, and liability accounts normally show credit balances five subdivisions of stockholders’ equity: common stock, retained earnings, dividends, revenues, and expenses...
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This note was uploaded on 06/19/2011 for the course FIN 402 taught by Professor Sandymcdonald during the Spring '11 term at University of Phoenix.

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