which pair of listed acounts follows the rules of debits and credits in relation to increases...
which pair of listed acounts follows the rules of debits and credits in relation to increases and decreases in the opposite manner?
A) Service Revenue and Notes Payable
B) Prepaid Rent and Advertising Expense
C) Common Stock and Unearned Rent Revenue
D) Salaries and Wages expense and notes payable
Homework Answers
Answer:
Correct Option: Salaries and Wages Expense and Notes Payable
Salaries and Wages Expense being an expenses account increases with Debit and decreases with Credit, whereas Notes Payable Increases being a liability increase with credit and decreases with debit.
Service Revenue being an Revenue account increases with credit and decreases with debit, whereas Notes Payable being an liability account increases with credit and decrease with debit.
Prepaid Rent being a Revenue account and Advertising Expense being an expense account increases with debit and decreases with credit.
Common Stock being a Equity account and Unearned Rent Revenue being an Liability account increases with credit and decreases with debit.
Therefore, Salaries and Wages Expense and Notes Payable follows the rule of debits and credit in opposite manner.
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