A credit is used to record an increase in which of the following accounts?

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A credit is used to record a decrease in which of the following accounts? Multiple Choice Accounts Receivable Accounts Payable Unearned Revenue Service Revenue Common Stock

Question: A credit is used to record a decrease in which of the following accounts? Multiple Choice Accounts Receivable Accounts Payable Unearned Revenue Service Revenue Common Stock

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Question: A credit is used to record a decrease in which of the following accounts? Multiple Choice Accounts Receivable Accounts Payable Unearned Revenue Service Revenue Common Stock
This problem has been solved!
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Which accounts would be increased with a credit?
Is a credit used to record an increase in accounts payable?
What is a credit used to record?
Which type of account is increased with a credit quizlet?

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Answer: Accounts receivable Explanation: 1. Accounts receivable…

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Which accounts would be increased with a credit?

A credit is always positioned on the right side of an entry. It increases liability, revenue or equity accounts and decreases asset or expense accounts.

Is a credit used to record an increase in accounts payable?

Answer and Explanation: A credit is used to record an increase in the account except for D. Wages Expense. Normal balance refers to the accounting side by which an account increases its balance.

What is a credit used to record?

A decrease in an asset account. As per the rule, a credit decreases the asset account. Since the asset has a normal debit balance. To decrease the balance in the asset account, a credit is recorded.

Which type of account is increased with a credit quizlet?

Accounts Receivable accounts are increased with a credit. The owner's equity account is increased on the debit side, because the owner's capital account has a normal balance on the debit side.