1,debit column of the balance sheet
2 credit column of the balance sheet
3 debit column of the Income statement
4. credit colum of the aadjustments column
1 Answer
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#3 Revenues are on the credit side, expenses are on the debit side. If expenses exceed revenues for the period there is a net loss. So the debit side would be greater. Net income or loss is part of the Income Statement.