Complete the following chart indicating if the account is increased with a debit or a credit.
Definitions:
Extend Credit
Extend Credit means to allow a customer to purchase goods or services now and pay for them later, essentially providing a loan to the customer.
Product Line
A group of related products produced by a business, often sharing common attributes, marketing channels, or uses.
Financial Statements
Documents that present an organization's financial activity and condition, including income statement, balance sheet, and cash flow statement.
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