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Accounts that typically have a credit balance include liabilities, equity, and revenue accounts. For example, Accounts Payable, long-term debt, and common stock all carry a credit balance, reflecting obligations or ownership interests. Additionally, revenue accounts, such as sales revenue, also maintain a credit balance as they represent income earned by the business. In contrast, asset and expense accounts generally have a debit balance.
What else can I help you with?
Do Common stock has a normal credit balance?
Common Stock normally has a Credit Balance.
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.
Does accounts receivable normally have a credit balance?
no
A balance of a prepaid expence account is normally DEBIT OR CREdit?
Prepaid Expenses would normally have a debit balance.
What is the normal balance of a liabilty account?
A liability account normally has a credit balance.
Is contributed capital normally a credit or debit balance?
it is a credit balance
Do Common stock has a normal credit balance?
Common Stock normally has a Credit Balance.
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.
Does accounts receivable normally have a credit balance?
no
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.
A balance of a prepaid expence account is normally DEBIT OR CREdit?
Prepaid Expenses would normally have a debit balance.
What is the normal balance of a liabilty account?
A liability account normally has a credit balance.
Does inventory normally have a credit balance?
No, inventory is an assets, which normal balance is a debit.
Does sales have a normal debit balance?
No, Sales would normally have a credit balance.
Do expense accounts normally have a credit balance?
yes
Expenses are to be debit or credit?
An Expense would normally have a debit balance.
Is bonds payable normally debit or credit?
Bonds Payable would be a liability and therefore normally maintain a credit balance.
