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What else can I help you with?
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.
is revenue debit and expense credit?
No all revenues has credit balance as default balance while all expenses has debit balance as default normal balance.
Is the decrease in revenue a debit?
Default balance for revenue is credit balance so to reduce a revenue account it must be something with debit balance so debit is a decrease in revenue.
Is interest payable a credit or debit?
Interest payable is liability account and have a credit balance as a normal balance.
What account have normal debit balance?
all fixed assets a/c have a debit balance normally
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.
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 service revenue a debit or cedit?
Services revenue is also a revenue and like all revenue accounts which have credit balance as normal balance, services revenue also has a credit balance.
is revenue debit and expense credit?
No all revenues has credit balance as default balance while all expenses has debit balance as default normal balance.
Is the decrease in revenue a debit?
Default balance for revenue is credit balance so to reduce a revenue account it must be something with debit balance so debit is a decrease in revenue.
Is interest payable a credit or debit?
Interest payable is liability account and have a credit balance as a normal balance.
What account have normal debit balance?
all fixed assets a/c have a debit balance normally
Is rent expense credit or debit?
As all expenses has debit balance as normal balance and rent is also expense then rent expense also has debit balance and shown in income statement as a reduction from revenue.
Is product sales normally debit or credit?
Sales revenue has a credit balance as a normal balance so product sales also has credit balance as normal balance.
What are in normal balances of accounts?
The normal balance of an account refers to the side (debit or credit) that increases the account's balance. For asset accounts, the normal balance is a debit, while for liability and equity accounts, it is a credit. Revenue accounts also have a normal credit balance, and expense accounts typically have a normal debit balance. Understanding these normal balances is crucial for accurate bookkeeping and financial reporting.
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.
Is interest expense decreased with a debit?
Interest expenses has debit balance as default normal balance so debit don’t decrease it rather increase it and to reduce it credit is required as it is opposite of it.
