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A purchase you make is a DEBIT against your account.
Wiki User
∙ 9y ago
Wiki User
∙ 9y agoPurchases account is personal nature of account and as per basic accounting rules debit what comes in and credit what goes out so purchases is debit balance as normal default balance.
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Does a debit increase purchase discounts?
Purchases account has debit balance as default balance while purchases returns has credit balance as default balance because it is use to reduce the purchases account so debit decreases the purchase discounts while credit increases the purchase discount account.
Purchase Return and Allowances is a contra account and its normal balance would be...?
a debit and credit
Is a premises an credit or debit?
Premises is an asset for business and like all other assets of business which has debit balance as normal default balance it also has debit balance.
Is purchases a normal debit or credit balance?
debit balance
Does assets account have a debit balance or a credit balance?
debit
Does a debit increase purchase discounts?
Purchases account has debit balance as default balance while purchases returns has credit balance as default balance because it is use to reduce the purchases account so debit decreases the purchase discounts while credit increases the purchase discount account.
Is withdrawal a debit or credit balance?
it is a debit balance because it decreases owner's equity, which has credit balance.
Does cash on hand have a debit or credit balance?
credit
Purchase Return and Allowances is a contra account and its normal balance would be...?
a debit and credit
Purchase Return and Allowances is a contra account and its normal balance would be.?
a debit and credit
Purchase Return and Allowances is a contra account and its normal balance would be?
a debit and credit
Is purchases a normal debit or credit balance?
debit balance
Does assets account have a debit balance or a credit balance?
debit
Is a premises an credit or debit?
Premises is an asset for business and like all other assets of business which has debit balance as normal default balance it also has debit balance.
Is accrued expenses a debit or credit balance?
Debit in your Income statement credit in your balance sheet.
Is withdrawals a debit or a credit?
it is a debit balance because it decreases owner's equity, which has credit balance.
Does inventory have a debit or credit balance?
Debit
