Question

Question 1 2.5 pts For each account listed below, determine if the account is decreased by a debit or a credit. Select your answer by clicking in the drop down box to the right of each account. Be careful with matching questions because carmen randomizes the matches. Thus, if you print out the quiz to work on it and then enter your answers later in the week, it is very likely the order of the matches will be different. Therefore, exercise caution when entering your answers into carmen. Quiz scores will not be adjusted for errors in entering choices. dividends debit interest revenue debit accounts payable debit patent credit loss on sale of land debit

Answer 1

Solution:

Dividends	Credit
Interest Revenue	Debit
Account Payable	Debit
Patent	Credit
Loss on sale of land	Credit

Notes:

1) Dividends usually have debit balance.It will be increase by debit and decrease by credit.

2) Interest Revenue usually have credit balance.It will be increase by credit and decrease by debit.

3) Account Payable usually have credit balance.It will be increase by credit and decrease by debit.

4) Patent usually have debit balance.It will be increase by debit and decrease by credit.

5) Loss on sale of land usually have debit balance.It will be increase by debit and decrease by credit.