No, inventory is an assets, which normal balance is a debit.
Inventory is an asset account. They normally have a debit balance.
Debit
Opening inventory Debit Cost of Sales Credit Inventory - balance sheet Closing inventory Debit Inventory - balance sheet Credit Cost of Sales An opening inventory is a debit as it is an increase is expenses as the opening inventory is expected to be sold in the coming accounting period. and any thing that is spent to provide goods or services to a customer is an expense.
debit buddy
it is an asset
Inventory is an asset account. They normally have a debit balance.
Debit
it is a credit balance
Debit
debit buddy
credit side
it is an asset
Opening inventory Debit Cost of Sales Credit Inventory - balance sheet Closing inventory Debit Inventory - balance sheet Credit Cost of Sales An opening inventory is a debit as it is an increase is expenses as the opening inventory is expected to be sold in the coming accounting period. and any thing that is spent to provide goods or services to a customer is an expense.
Common Stock normally has a Credit Balance.
Notes Payable is a liability, so it would normally have a credit balance. Accounts Receivable is an asset which would normally have a debit balance.
Sales revenue has a credit balance as a normal balance so product sales also has credit balance as normal balance.
no