debit balances
Petty Cash is an asset account with a normal Debit balance.
Merchandise Inventory is an asset account, so the normal balance is Debit.
contra asset account, credit balance
Inventory is an asset account. They normally have a debit balance.
asset, debit
Petty Cash is an asset account with a normal Debit balance.
Merchandise Inventory is an asset account, so the normal balance is Debit.
Debit. For online help in the basics of bookkeeping, and for information about recording business transactions, see the Related Link.
contra asset account, credit balance
Inventory is an asset account. They normally have a debit balance.
asset, debit
Cash is an asset account and like all assets accounts cash has a debit account as a normal account
Asset Contra account to Accounts Receivable (Contra-Asset). Normal balance is credit.
Prepaid expense is personal account in nature and default normal balance is debit balance and shown under current asset in asset side of balance sheet.
What kind of an account (asset, liability, etc.) is Allowance for Doubtful Accounts, and is its normal balance a debit or a credit?
Accounts receivable has a debt balance as normal accounting balance because it is an asset of company.
contra asset, credit