BUSD1004-H10
Midterm Exam #1 Review
Exercise 1
For the accounts listed below, indicate if the normal balance of the account is a debit or credit.
Normal Balance
Account Debit or Credit
1. Repairs Expense Debit ______________
2. Interest Receivable Debit ______________
3. Prepaid Insurance Debit ______________
4. Unearned Revenue Credit _____________
5. Insurance Expense Debit ______________
6. Service Revenue Credit _____________
7. Equipment Debit ______________
8. Notes Payable Credit _____________
9. Land Debit ______________
10. Owner’s Drawings Debit ______________
