Select each statement either the word "debit" or "credit." 1. an asset account is increased with a debit . 2. owner's equity is increased with a credit . 3. to place an amount on the left-hand side of the t account is to debit the account. 4. the prepaid insurance account is increased by entering a debit . 5. the drawing account is decreased by entering a credit . 6. the accounts payable account is decreased with a debit . 7. the owner's capital account is increased with a credit . 8. the wages expense account is increased with a debit . 9. the fees earned account is increased with a credit . 10. the equipment account is decreased with a credit .