0
Default balance for revenue is credit balance so to reduce a revenue account it must be something with debit balance so debit is a decrease in revenue.
Wiki User
∙ 9y ago
Add your answer:
Earn +20 pts
In what does a debit signify a decrease?
A debit signifies a decrease in any of 3 instances: 1. A liability: such as Accounts Payable 2. Equity: such as Capital Draw. 3. Revenue: a debit to a revenue account decreases it.
Is sales return revenue or expense?
It's a contrarevenue. It would show up in the revenue section but as a debit as opposed to a credit. A return would decrease your revenues but not increase your expenses.
Is deferred revenue a debit or credit?
debit
What does a debit signify a decrease in?
A debit will decrease turnover, liabilities, and equity.
What is journal entry for accrued service revenue?
debit accounts receivableCredit services revenue
Is Decrease in Unearned Rent Revenue a credit or debit?
Debit
In what does a debit signify a decrease?
A debit signifies a decrease in any of 3 instances: 1. A liability: such as Accounts Payable 2. Equity: such as Capital Draw. 3. Revenue: a debit to a revenue account decreases it.
What will a decrease a revenue and a decrease in assets?
A sales refund will reduce income (debit to Sales Returns) and assets (credit to cash). A debit to Depreciation Expense and a credit to Accumulated Depreciation will reduce assets and net income.
Returned damaged goods to supplier- what debit and credit account?
When you have returned damaged goods then you will need to credit accounts receivable and debit accounts payable. This will decrease your revenue for the account.
Is sales return revenue or expense?
It's a contrarevenue. It would show up in the revenue section but as a debit as opposed to a credit. A return would decrease your revenues but not increase your expenses.
Is sales return a revenue or expenses?
It's a contrarevenue. It would show up in the revenue section but as a debit as opposed to a credit. A return would decrease your revenues but not increase your expenses.
Is deferred revenue a debit or credit?
debit
What does a debit signify a decrease in?
A debit will decrease turnover, liabilities, and equity.
Is a service revenue a credit or debit?
Service Revenue is credit in nature because it is an income.
What is journal entry for accrued service revenue?
debit accounts receivableCredit services revenue
What would the journal entry be to record an accured revene?
[Debit] Revenue receivable [Credit] Accrued revenue
Is revenue a credit or debit?
Revenue is income or a credit.
