Response to the following problem:
The following table summarizes the rules of debit and credit. For each of the items (a) through (n), indicate whether the proper answer is a debit or a credit.
Normal Increase Decrease Balance
Balance sheet accounts:
Asset Debit Credit (a)
Liability (b) (c) (d)
Stockholders' Equity:
Capital Stock (e) (f) Credit
Retained Earnings Credit (g) (h)
Dividends (i) Credit (j)
Income statement accounts:
Revenue (k) Debit (l)
Expense (m) Credit (n)