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cost of goods sold has a natural debit or credit balance
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How do you record accrued salaries?
Debit Salaries Expense, Credit Salaries Payable.
Does a debit memo increase or decrease a accounts payable balance?
The accounts payable balance is a credit, so a debit to this account will decrease the balance.
Can accounts payable normally have a debit balance?
No, Accounts payable don;t have debit balance as a normal balance and it mayb e happend of debit balance due to more payment then required.
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.
Is Accounts Payable a debit or credit on the trial balance?
debit
How do you record accrued salaries?
Debit Salaries Expense, Credit Salaries Payable.
Does a debit memo increase or decrease a accounts payable balance?
The accounts payable balance is a credit, so a debit to this account will decrease the balance.
Can accounts payable normally have a debit balance?
No, Accounts payable don;t have debit balance as a normal balance and it mayb e happend of debit balance due to more payment then required.
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.
Is Accounts Payable a debit or credit on the trial balance?
debit
What is the journal entry for outstanding salaries?
outstanding salaries a/c....................dr to outstanding expenses
Where are accounts payable on a trial balance?
Debit
Is Account Payable Considered Debit Or Credit On The Trial Balance?
debit
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.
Is wages and salaries expense a debit or credit?
All kind of expenses have debit balances so wages and salaries expenses have also debit balance instead of credit balance.
Are salaries expense debit or credit?
Expenses have a normal debit balance.
