Let's practice using “DEALER”! Try to answer these six questions:
1. Is "Dividends" a Normal Debit Account or a Normal Credit Account?
2. Is "Short-Term Loans" a Normal Debit Account or a Normal Credit Account?
3. Is "Common Stock" a Normal Debit Account or a Normal Credit Account?
4. Is "Inventory" a Normal Debit Account or a Normal Credit Account?
5. Is "Subscription Revenue" a Normal Debit Account or a Normal Credit Account?
6. Is "Cost of Goods Sold" a Normal Debit Account or a Normal Credit Account?
How many did you get right? Let us know in the comments.
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