Indicate whether a debit will increase (I) or decrease (D) each of the following accounts listed in items 1 through 16:
Increase (I) or Decrease (D) | Account |
1. ___ | Inventory |
2. ___ | Depreciation expense |
3. ___ | Accounts payable |
4. ___ | Prepaid rent |
5. ___ | Sales revenue |
6. ___ | Common stock |
7. ___ | Wages payable |
8. ___ | Cost of goods sold |
9. ___ | Utility expense |
10. ___ | Equipment |
11. ___ | Accounts receivable |
12. ___ | Utilities payable |
13. ___ | Rent expense |
14. ___ | Interest expense |
15. ___ | Interest revenue |
16. ___ | Gain on sale of equipment |
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