Petty Cash is an asset account with a normal Debit balance.
contra asset account, credit balance
What kind of an account (asset, liability, etc.) is Allowance for Doubtful Accounts, and is its normal balance a debit or a credit?
contra asset, credit
Accounts receivable has a debt balance as normal accounting balance because it is an asset of company.
Accumulated Depreciation is a contra-asset account. It is included with assets on the trial balance and Balance Sheet, however, it has a normal credit balance.
contra asset account, credit balance
What kind of an account (asset, liability, etc.) is Allowance for Doubtful Accounts, and is its normal balance a debit or a credit?
Debit. For online help in the basics of bookkeeping, and for information about recording business transactions, see the Related Link.
Asset Contra account to Accounts Receivable (Contra-Asset). Normal balance is credit.
contra asset, credit
Accounts receivable has a debt balance as normal accounting balance because it is an asset of company.
Accumulated Depreciation is a contra-asset account. It is included with assets on the trial balance and Balance Sheet, however, it has a normal credit balance.
Liability has credit balance as normal balance so credit joins credit and increases it while assets has debit balance as normal balance so debit and credit cannot join together like plus plus is equals to plus.
Assets has debit balance as normal balance so debit balance increases it while credit balance decreases it.
Cash is "not" a credit in accounting. The cash account is an asset and is a debit balance account. To increase the cash account you debit the account and to decrease it you credit it.Cash = Current Asset = Debit Balance(GAAP)
Merchandise Inventory is an asset account, so the normal balance is Debit.
debit balances