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Asset
Contra account to Accounts Receivable (Contra-Asset).
Normal balance is credit.
What else can I help you with?
What is the type of account in normal balance of allowance for doubtful accounts?
contra asset, credit
What type of account is Allowance For Bad Debt?
Asset
What type of account is debtors account?
Accounts Payable.
What account type is an intercompany account on the chart of accounts?
Other Debtors account
What type of account is an accounts payable?
An accounts payable is a "Liability" account. Payable being the "key" word, meaning something you have to "Pay" or "Owe".
What account type is accounts payable?
Accounts payable is a liability account. When something is purchased on account it falls under this category such as purchasing $10,000 worth of office supplies on account. You would debit the office supplies account under assets and credit accounts payable under liabilities.
What does account type mean?
Account type refers to the classification of an account based on its purpose and the services it offers. Common examples include checking accounts, savings accounts, investment accounts, and business accounts. Each type has distinct features, such as interest rates, withdrawal limits, and fees, tailored to meet specific financial needs. Understanding account types helps individuals and businesses choose the right options for their financial goals.
Which type of account will typically have the highest interest rate?
savings accounts
What is a type of checking account that also earns interest these accounts generally have a minimum balance?
a type of checking account that also earns intrest
What are the fees for HSBC accounts?
Yes, there are fees for HSBC accounts. Depending upon which type of account you have there are maintence fees and account service fees. Their montly account fees range from $2-$3 a month.
What type of bank account offers the easiest access to your money?
Business accounts
For which type of bank savings account are you investing money for a certain period of time?
These accounts are known as Money Market Accounts.
