For Each of the Following Accounts,identify Whether a Debit or Credit

question 196

Essay

For each of the following accounts,identify whether a debit or credit yields the indicated change
$$\begin{array} {| l | l| } \hline \text {a. To increase Fees Earned } & \quad\quad\quad\quad\quad\\\hline \text { b. To decrease Cash } & \\\hline \text { c. To decrease Unearned Revenue } & \\\hline \text { d. To increase Accounts Receivable } & \\\hline \text { e. To increase Common Stock } & \\\hline \text { f. To decrease Notes Payable } & \\\hline \text {g. To increase Prepaid Rent } & \\\hline \text { h.To increase Salaries Expense } & \\\hline \text { i.To increase Accounts Payable } & \\\hline \text {j. To decrease Prepaid Insurance } & \\\hline\end{array}$$

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Definitions:

Federal Taxes

Taxes collected by the federal government from individuals and corporations to fund public goods and services.

Federal Debt

The total amount of money owed by the federal government, accrued from past borrowing.

Budget Enforcement Act

Legislation intended to enforce strict budgetary controls on federal spending, aiming to reduce the fiscal deficit.

Budget Deficit

A budget deficit occurs when a government's expenditures exceed its revenues over a specified period, leading to borrowing or the use of saved reserves to meet the shortfall.