A credit is used to record an increase in all of the following accounts except:

A credit is used to record an increase in all of the following accounts except:

  • Accounts Payable
  • Service Revenue
  • Unearned Revenue
  • Wages Expense
  • Owner’s Capital

Answer: A credit is used to record an increase in all of the following accounts except Wages Expenses.

Wages Expenses is an Expenses Account, for all expenses Accounts a debit entry will increase the balance and the Credit entry will decrease the Balance.

For Accounts Payables, Unearned Revenue, Service Revenue, and Owner’s Capital will increase for every Credit entry.

Your reaction

NICE
SAD
FUNNY
OMG
WTF
WOW

Leave a Comment:

Your email address will not be published. Required fields are marked *