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Would a credit entry to the accounts receivable ledger account would make the balance?
Wiki User
∙ 9y ago
No! Accounts receivables is treated as an asset element in the balance sheet, and crediting an asset means decrease in asset.
Chesley Jaskolski
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Is an accouts receivable account in accounting a debit or a credit balance account?
Accounts receivable has a debt balance as normal accounting balance because it is an asset of company.
When does accounts receivable have a credit balance?
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.
Accounts receivable is decreased with a?
Accounts receivable is decreased with credit balance or by receiving the cash from customers.
Allowance for doubtful accounts is what type of account?
Asset Contra account to Accounts Receivable (Contra-Asset). Normal balance is credit.
What is the difference between a Debit and a Credit as it relates to Accounts Receivable?
Accounts Receivable is an account that holds what a person or company owes your business. For example you sold a computer to a customer on credit, this credit is listed in an Accounts Receivable and is an asset.Asset accounts maintain a Debit Balance, meaning that a debit to the account will increase the account (in other words increase the amount the customer owes the company).A credit to the account will decrease the balance of that account (in other words, it records payment or credit to that customers account and decreases the amount the customer owes the company).
When do you need to credit accounts receivable?
Accounts receivable is an asset account and therefore debit in nature. If you were to credit it, you would reduce its balance. This would usually be done upon receipt of payment or when a receivable is written off.
Does accounts receivable normally have a credit balance?
no
Is sales a debit balance?
Sales is a revenue account and like all revenue accounts sales also has credit balance as normal balance and cash or accounts receivable are debit against it.
Is sales a credit or debit?
Sales is a revenue account and all revenues has credit balance as default balance so sales also has credit as default balance while cash or accounts receivable will be debited against it.
Which normally has a credit balance - accounts receivable or notes payable?
Notes Payable is a liability, so it would normally have a credit balance. Accounts Receivable is an asset which would normally have a debit balance.
Are accounts receivable a debit or credit?
Accounts receivable is a debit.Answer:Accounts receivable is an asset and therefore maintains a debit balance. This is an account listing what a person or company owes you, or money that you expect to receive. Since it is an asset (all assets maintain a debit balance) it means to increase the account you debit it and to decrease it (when a payment is made by the customer) you credit it.Assets = debit balance (increase with debit, decrease with credit)Liabilities and Owners Equity = credit balance (increase with a credit, decrease with a debit)(GAAP)
Does accounts receivalbe carry a credit or debit balance?
Accounts receivable is an asset of company and like all other assets accounts accounts receivable also has debit balance.
