EX 5-37 Rules of debit and credit for periodic inventory accounts Complete the following table by indicating for (a) through (g) whether the proper answer is debit or credit.
|
Account |
Increase |
Decrease |
Normal Balance |
|
Purchases |
debit |
(a) |
(b) |
|
Purchases Discounts |
credit |
(c) |
credit |
|
Purchases Returns and Allowances |
(d) |
(e) |
(f ) |
|
Freight In |
debit |
(g) |
debit |