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State the normal balance of each of the six major groups

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Reference no: EM132162662

Question: Prior to beginning work on this discussion, read Chapters 1 and 2 in the textbook. In addition, the MyLab materials listed in the Recommended Resources section this week may provide more in-depth information for this discussion (optional).

Write: Make sure your response addressing the following questions is more than 200 words and that you include an in-text citation or a brief quote from the reading material where appropriate. Use the Ashford Writing Center resource Citing Within Your Paper for guidelines on properly citing sources.

• What accounts are included in each of the six major groups of accounts?

• State the normal balance of each of the six major groups.

• What effect does a debit and a credit have on each major group?

• How might an imbalance in debits and credits impact a business?

The link is the book used for this class. Please cite the material used.

Miller-Nobles, T. L., Mattison, B. L., & Matsumura, E. M. (2018). Horngren's accounting (12th ed.).

Reference no: EM132162662

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