PLEASE ANSWER THE FOLLOWING IN 150 WORDS MINIMUM.
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Get Help Now!1. What are debits and credits? How are they used in Accounting?
2. What · Stockholders’ equityside of the transaction are credits? For the following types of accounts, please discuss if credits increase or decrease them:
· Assets
· Liabilities
· Stockholders’ equity
· Revenue
· Expenses
3. Please describe the recording process.
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