Identify whether a debit or credit results in the indicated change for each of the following...

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Identify whether a debit or credit results in the indicated change for each of the following accounts. a. To increase Note Re Indicate the financial statement on which each of the following items appears. Use Ifor income statement, E for statement of

business accounting

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Answer 1

Answer #1

Q1.

Transaction	Debit or Credit
Increase note receivable	DEBIT
Decrease prepaid rent	CREDIT
Increase delivery expenses	DEBIT
Increase haircutting revenue	CREDIT
Decrease utility payable	DEBIT
Decrease prepaid parking	CREDIT
Increase tax payable	CREDIT
Decrease furniture	CREDIT
Increase common stock	CREDIT
increase office supplies	DEBIT

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Answer 2

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