What entry (debit or credit) would you make to (a) increase revenue, (b) decrease in expense, (c) record drawings, (d) record the fresh capital introduced by the owner.

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Solution

The following entry will be made in the above case

(a) Increase revenue Credit entry will be made in this case.

(b) Decrease expense Credit entry will be made in this case.

(c) Record drawings Debit entry will be made in this case.

(d) Fresh capital introduced Credit entry will be made in this by the owner case.

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