current liability
Cash is "not" a credit in accounting. The cash account is an asset and is a debit balance account. To increase the cash account you debit the account and to decrease it you credit it.Cash = Current Asset = Debit Balance(GAAP)
The classification of Accounts Payable is liability, and a current liability, it has a normal credit balance, and is found on the Balance Statement as a permanent account.
If an account has a credit balance the customer must have overpaid on their account or a credit was issued by the company and posted to the customers account, resulting in a credit or negative balance.
Is a credit balance in a vendor subsidiary account an unpaid balance owed?
The normal balance in a capital account is a credit. Capital is a balance sheet account. Assets = Liabilities + Capital
A bank balance is the amount by which a current account is in credit or deficit.
Accounts receivables has debit balance as normal balance of account and shown in current assets in balance sheet.
Cash is "not" a credit in accounting. The cash account is an asset and is a debit balance account. To increase the cash account you debit the account and to decrease it you credit it.Cash = Current Asset = Debit Balance(GAAP)
It appears the account includes a line of credit.
The classification of Accounts Payable is liability, and a current liability, it has a normal credit balance, and is found on the Balance Statement as a permanent account.
If an account has a credit balance the customer must have overpaid on their account or a credit was issued by the company and posted to the customers account, resulting in a credit or negative balance.
Is a credit balance in a vendor subsidiary account an unpaid balance owed?
The normal balance in a capital account is a credit. Capital is a balance sheet account. Assets = Liabilities + Capital
Is a credit balance in a vendor subsidiary account an unpaid balance owed?
Is a credit balance in a vendor subsidiary account an unpaid balance owed?
Is a credit balance in a vendor subsidiary account an unpaid balance owed?
The Fees Earned account has a credit balance. This means that you credit the account to increase the balance, and debit the account to decrease the balance.