rules of debit and credit for periodic inventory accounts complete the following tab 541789
EX 5-37 Rules of debit and credit for periodic inventory accounts Complete the following table by indicating for (a) through (g) whether the proper answer is debit or credit.
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rules of debit and credit for periodic inventory accounts complete the following tab 541789
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Increase |
Decrease |
Normal Balance |
|
Purchases |
debit |
(a) |
(b) |
|
Purchases Discounts |
credit |
(c) |
credit |
|
Purchases Returns and Allowances |
(d) |
(e) |
(f ) |
|
Freight In |
debit |
(g) |
debit |
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