Which Pair of the Listed Accounts Follows the Rules of Debits

question 43

Multiple Choice

Which pair of the listed accounts follows the rules of debits and credits in relation to increases and decreases in the same manner?

• A)Salaries and Wages Expense and Notes Payable
• B)Common Stock and Rent Expense
• C)Prepaid Rent and Advertising Expense
• D)Service Revenue and Equipment

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Definitions:

Credit Sales

Sales made on credit, where the payment from the buyer is deferred to a later date.