Rules of debit and credit
The following table summarizes the rules of debit and credit. For each of the items (a) through (l), indicate whether the proper answer is a debit or a credit.
| Increase | Decrease | Normal Balance | |
| Balance sheet accounts: | |||
| Asset | (a) | (b) | Debit |
| Liability | (c) | Debit | (d) |
| Stockholders’ | |||
| Capital Stock | Credit | (e) | (f ) |
| Retained Earnings | (g) | (h) | Credit |
| Dividends | Debit | Credit | (i) |
| Income statement | |||
| Revenue | (j) | (k) | Credit |
| Expense | (l) | Credit | Debit |
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