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Please use your own words to answer these questions below (minimum 300 words per question): 1. Understanding Debits (Dr) and Credits (Cr): Fellow student wants to get a better understanding of the terms Debit and Credit as it pertains to accounting. Write a report to explain this concept to the student, give examples and suggest way to make it easier for this student to learn these basics. Suggest tricks, tips, tools, mnemonics to help students memorize this. Do not copy information from the book or website. 2. Understanding Accounting Cycle: List and explain the steps/process of accounting cycle. 3. Merchandise Vs Service Business: In comparing the accounts of a merchandising company with those of a service company, what additional accounts would the merchandising company likely use, assuming it employs a perpetual inventory
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