Debit - How would an accountant record an increase in cash?, credit - How would an accountant record an increase in sales?, credit columm - Expense, right - credit account is on your, true - The period of time covered by an accounting report is the accounting period., liabilities - Any amounts owed by a business and reported on the balance sheet are referred to as ________________., Owner's Equity - The basic accounting equation is Assets=Liabilities + _______________________., revenue - An increase in owner's equity resulting from the operation of a business, assets - Anything of value that is owned by the company (such as cash, accounts receivables, vehicles, etc.) are reported on the balance sheet and are referred to as _______________.,

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