EX 6-37 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 |
(a) |
credit |
(b) |
|
Purchases Discounts |
(c) |
debit |
credit |
|
Purchases Returns and Allowances |
(d) |
debit |
(e) |
|
Freight in |
(f ) |
(g) |
debit |