answersLogoWhite

0

What else can I help you with?

Related Questions

Is interest receivable debit or credit?

debit


What is the journal entry for interest receivable?

[Debit] Interest Receivable [Credit] Interest Income


What is the journal entry for accrued interest expense on Notes Payable?

debit interest expense, credit interest payable for the accrued amount


Are accounts receivable a debit or credit on trial balance sheet?

Debit


Is a Decrease in Interest Receivable a credit or debit?

a decrease in a receivable is a decrease in an asset therefore its a credit.


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.


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.


Is revenue a cash or debit?

Revenue is always credit as all revenue accounts has credit balance as normal balance and cash received or accounts receivable is debit 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.


Is interest payable a credit or debit?

Interest payable is liability account and have a credit balance as a normal balance.


Is interest earned a debit or credit?

All earnings and revenues has credit balance as normal balance so interest earned also has credit balance as default normal balance.