kadentaylor65 kadentaylor65
  • 14-06-2021
  • Business
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A business should have separate accounts for recording revenue and expenses

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manjusha5c4
manjusha5c4 manjusha5c4
  • 14-06-2021

Answer:

A business should have separate accounts for recording revenue and expenses. Expenses have the opposite effect from revenue on the capital account. Temporary capital accounts are extensions of the owner's capital account. ... Revenues increase owner's equity, and increases in revenues are recorded as debits.

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