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Is interest payable a credit or debit?
Interest payable is liability account and have a credit balance as a normal balance.
Is bank interest payable credit or debit?
All kind of payables have a credit balance as a default or normal balance. So by following this rule, bank interest payable also has a credit balance as normal balance.
What is the normal balance for accounts payable?
Accounts payable is a liability account and all liability accounts have credit balance as normal balance so accounts payable is also credit as a normal balance
What is the normal balance of a bonds payable account?
Normal balance of bonds payable account is credit account and it is shown under liability side of balance sheet because these are the amounts payable in future.
Interest payable found on the balance sheet?
Interest payable is liability for business that's why shown under liability side of balance sheet of business.
Is interest payable a credit or debit?
Interest payable is liability account and have a credit balance as a normal balance.
Is bank interest payable credit or debit?
All kind of payables have a credit balance as a default or normal balance. So by following this rule, bank interest payable also has a credit balance as normal balance.
What is the normal balance for accounts payable?
Accounts payable is a liability account and all liability accounts have credit balance as normal balance so accounts payable is also credit as a normal balance
What is the normal balance of a bonds payable account?
Normal balance of bonds payable account is credit account and it is shown under liability side of balance sheet because these are the amounts payable in future.
Interest payable found on the balance sheet?
Interest payable is liability for business that's why shown under liability side of balance sheet of business.
To increase note payable is debit or credit?
Notes payable has credit balance as normal balance so credit will increase the notes payable balance.
How is Interest Expense with a credit balance classified in the financial statements?
An Interest Expense with a credit balance is reclassified as Interest Payable on the Balance Sheet.
Does dividends payable have a normal balance of a credit?
Yes divident payable has credit as a normal balance because it is the liability of company to pay to it's shareholders.
The classification and normal balance of the accounts payable account is?
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.
What element of financial statements interest payable belong?
Interest payable is liability to be cleared in future that's why shown in liability side of balance sheet.
Are accounts payable a credit or debit?
Accounts Payable is a Liability and therefore its normal balance is a Credit on the Balance Sheet
Does accounts payable have a normal debit balance?
yes
