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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.
To increase note payable is debit or credit?
Notes payable has credit balance as normal balance so credit will increase the notes payable balance.
Is interest payable a credit or debit?
Interest payable is liability account and have a credit balance as a normal balance.
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.
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.
To increase note payable is debit or credit?
Notes payable has credit balance as normal balance so credit will increase the notes payable balance.
Is interest payable a credit or debit?
Interest payable is liability account and have a credit balance as a normal balance.
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.
Are accounts payable a credit or debit?
Accounts Payable is a Liability and therefore its normal balance is a Credit on the Balance Sheet
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.
Does accounts payable have a normal debit balance?
yes
WHAT is normal balance of accounts payable?
credit balances
When does debit balance in account payable?
As accounts payable has a credit balance as normal balance so it has credit balance until not paid but it may have debit balance as well in case when payment is made for more than actual accounts payable which create negative balance or debit balance.
Does sales tax payable have a normal credit balance?
All payable maintain a credit balance. A payable is a liability account and therefore like a liability does increase with a credit and decrease with a debit.
