In the following table, indicate how to increase or decrease (debit or credit) each account, and indicate its normal balance (debit or credit).
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Increased by (debit or credit) |
Decreased by (debit or credit) |
Normal Balance (debit or credit) |
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Title of Account |
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Merchandise Inventory |
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Sales |
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Sales Returns and Allowances |
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Sales Discounts |
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Accounts Receivable |
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Purchases |
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Purchase Returns and Allowances |
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Purchase Discounts |
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Accounts Payable |
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Transportation-In |