Here are 5 quick questions on Debits and Credits. Can you get them all right?

1. Do you Debit or Credit "Cost of Sales" to increase it?
2. Do you Debit or Credit "Accounts Receivable" to decrease it?
3. Do you Debit or Credit "Service Revenue" to increase it?
4. Do you Debit or Credit "Retained Earnings" to decrease it?
5. Do you Debit or Credit "Accrued Expenses" to increase it?

Let me know how you scored in the comments.

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