Question

For each account shown below, determine if posting a credit to
the account would result in an increase or a decrease to the
account balance. Select your answer by clicking in the drop
down box to the right of each account.

Group of answer choices

cost of goods sold

      [ Choose ]            increase            decrease      

notes payable

      [ Choose ]            increase            decrease      

gain on sale of building

      [ Choose ]            increase            decrease      

prepaid rent

      [ Choose ]            increase            decrease      

common stock

Answer 1

cost of goods sold decrease

  

notes payable increase

gain on sale of the building increase

prepaid rent decrease

common stock increase