Problem
Briefly explain the rules of debits and credits as they relate to assets, liabilities, equity, revenue, and expenses. Do debits always increase an account? Do credits always decrease an account? Give examples
Determine which accounts are debited and credited:
May 1 Marla Hall invested $ 30,000 cash to start her business, Marla's Housekeeping Services.
May 2 Purchased cleaning equipment on account for $ 5,000.
May 5 Paid rent for the month, $ 1,500.
May 7 Paid $ 1,200 cash for office supplies.
The response must include a reference list. Using Times New Roman 12 pnt font, double-space, one-inch margins, and APA style of writing and citations.