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Yes notes receivable has debit balance as default balance because it is receivable in future as well as it is asset for which benefit has not yet been taken.
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∙ 9y ago
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When a company receives an interest-bearing note receivable it will do what?
debit Notes Receivable for the face value of the note.
When a company receives an interest bearing note?
Debit notes receivable for the face value of the note.
Which normally has a credit balance - accounts receivable or notes payable?
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.
What is the journal entry for dividends receivable?
Dividend receivable Debit Cash dividend Credit Cash Debit Dividend receivable Credit
Is commission receivable a credit or debit?
commission receivable is credited
What is the general ledger journal entry to write off notes receivable?
debit bad debtscredit notes receivable
What is the journal entry for accrued interest expense on Notes Payable?
debit interest expense, credit interest payable for the accrued amount
When a company receives an interest-bearing note receivable?
Debit notes receivable for the face value of the note.
When a company receives an interest-bearing note receivable it will do what?
debit Notes Receivable for the face value of the note.
When a company receives an interest bearing note?
Debit notes receivable for the face value of the note.
Which normally has a credit balance - accounts receivable or notes payable?
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.
Is interest receivable debit or credit?
debit
What is the journal entry for dividends receivable?
Dividend receivable Debit Cash dividend Credit Cash Debit Dividend receivable Credit
What is the journal entry to record accrued interest income from note receivable?
[Debit] Accrued interest income [Credit] Notes payable
Is commission receivable a credit or debit?
commission receivable is credited
Can accounts receivable normally have a debit balance?
Accounts receivable in an asset account and normally maintains a debit balance. So the answer is Yes.
Are accounts receivable a debit or credit on trial balance sheet?
Debit
