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Mechandise inventory is a current asset which is used in manufacturing of units of products or resale purpose that's why it is asset of business and has debit balance as normal balance.
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∙ 9y ago
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What is the normal balance of the merchandise inventory account?
Merchandise Inventory is an asset account, so the normal balance is Debit.
Normal balance for merchandise inventory?
debit
Does inventory account have a normal debit balance?
Inventory is an asset account. They normally have a debit balance.
Does inventory normally have a credit balance?
No, inventory is an assets, which normal balance is a debit.
What accounts has a normal debit balance a Merchandise Inventory b Delivery Expense c Sales Returns and Allowances d Sales?
Sales Returns and Allowances
What is the normal balance of the merchandise inventory account?
Merchandise Inventory is an asset account, so the normal balance is Debit.
Normal balance for merchandise inventory?
debit
Does inventory account have a normal debit balance?
Inventory is an asset account. They normally have a debit balance.
Does inventory normally have a credit balance?
No, inventory is an assets, which normal balance is a debit.
What accounts has a normal debit balance a Merchandise Inventory b Delivery Expense c Sales Returns and Allowances d Sales?
Sales Returns and Allowances
Is merchandise inventory is a credit or debit?
debit
Does inventory have a debit or credit balance?
Debit
How should this transaction be recorded in the journal entry if merchandise inventory that cost 620000 is reported on the balance sheet at 690000?
debit owners equity 70000credit inventory 70000
How should this tranacstion be recorded in the journal entry if merchandise inventory that cost 620000 is reported on the balance sheet at 690000?
debit owners equity 70000credit inventory 70000
Does inventory have a credit or debit balance account?
Debit
Would work in process for deposits have a credit balance or debit balance?
Work in Process is considered an asset because it is inventory. Assets have a debit normal balance. adding materials to work in process is a debit to work in process.
Does inventory carry a debit or credit balance?
debit buddy
