A debit is used to record:A) A decrease in an asset account.B) A decrease in an expense account.C) An increase in a revenue account.D) An increase in the balance of an owner's capital account.E) An increase in the balance of the owner's withdrawals account.

Question

A debit is used to record:A)  A decrease in an asset account.B)  A decrease in an expense account.C)  An increase in a revenue account.D)  An increase in the balance of an owner's capital account.E)  An increase in the balance of the owner's withdrawals account.

Jamid Vasquez · Accepted Answer

Final Answer : E, Explanation :  Debits are used to increase asset and expense accounts and decrease liability, equity, and revenue accounts. Therefore, an increase in the owner's withdrawals account, which is an equity account, is correctly recorded with a debit.

A debit is used to record:

A) A decrease in an asset account.
B) A decrease in an expense account.
C) An increase in a revenue account.
D) An increase in the balance of an owner's capital account.
E) An increase in the balance of the owner's withdrawals account.

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