For Each of the Accounts Listed Below, Enter the Words

question 20

Essay

For each of the accounts listed below, enter the words, Increase or Decrease, in the Debit and Credit columns to indicate the effects of each on the account balance. The first row has been completed for reference.
$\begin{array}{|l|l|l|l|}\hline &{\text { Account }} & \text { Debit } & \text { Credit } \\\hline \text { A. } & \text { Cash } & \text { Increase } & \text { Decrease } \\\hline \text { B. } & \text { Accounts Payable } & & \\\hline \text { C. } & \text { Fees Income } \\\hline \text { D. } & \text { Ian Roberts, Capital } \\\hline \text { E. } & \text { Ian Roberts, Drawing } \\\hline \text { F. } & \text { Rent Expense } \\\hline \text { G. } & \text { Store Equipment } \\\hline \text { H. } & \text { Telephone Expense } \\\hline\end{array}$

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Definitions:

Daily Profit

The financial gain or loss a business makes in a single day, calculated by subtracting total daily expenses from total daily revenue.

Marginal Revenue

The extra revenue generated by the sale of an additional unit of a product or service.

Profit-maximizing

The process or strategy by which a firm determines the price and output level that returns the greatest profit.

Ethanol

A renewable fuel made from various plant materials, which can be used as an alternative to gasoline.