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The transaction would increase an asset account and increase a liability account?
The transaction would increase an asset account and increase a liability account?
Is purchase returns an asset or liability?
purchase return is assets or liability or expense
What purchase of supplies on account is recorded in the?
The amount which is paid on account(credit) should be recorded in a liability account i believe while record the purchased supplies in the asset.
Is a Reserve account an asset or liability?
It is assets
Are Unearned Revenue is a contra asset account?
No. It's a liability account.
The transaction would increase an asset account and increase a liability account?
The transaction would increase an asset account and increase a liability account?
Is a positive balance in your cheque account a asset or liability to you and the bank?
For Bank: Liability For You: Asset
Is a cheque account an asset or liability?
It comes under liability
Is purchase returns an asset or liability?
purchase return is assets or liability or expense
What purchase of supplies on account is recorded in the?
The amount which is paid on account(credit) should be recorded in a liability account i believe while record the purchased supplies in the asset.
Is a Reserve account an asset or liability?
It is assets
Are Unearned Revenue is a contra asset account?
No. It's a liability account.
Is cash at the bank an asset or liability?
Cash at the bank is an asset for you but a liability for the bank if it is held in a checking or regular savings account.
Is drawings an asset equity or liability account?
equity
Is electricity a liability or asset?
Electricity expense is an expense account while accrued electricity payable is a liability account
Is a checking account considered an asset or liability?
A checking account is considered an asset because it represents money that you own and can access.
Is account payable asset or liability?
accounts payable is a liablity.
