state the rulesof debit and credit of capital
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Asset accounts normally have debit balances, while liabilities and capital normally have credit balances. Income has a normal credit balance since it increases capital . On the other hand, expenses and withdrawals decrease capital, hence they normally have debit balances. ... Therefore, to inc
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Rule:all accounts that normally contain s a debit balance will increase in amount when a debit is added to them and reduced when a credit is added to them the type of account to which this rule applies are expenses, assist and dividends
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