breroyalee4925 breroyalee4925
  • 13-01-2020
  • Social Studies
contestada

Which of the accounts are decreased on the debit side and increased on the credit side?

Respuesta :

andymoffice andymoffice
  • 14-01-2020

Answer:

In the income statement, the income accounts. In the balance sheet, the liabilities and equity.

Explanation:

These accounts are opposite to expenses, in the case of the income statement; and to assets, in the case of balance sheet. When an income is registered, a credit increases this account, and as a counterpart, a debit increases assets (if a sales were made in cash).

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