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What else can I help you with?
Are accounts payable an interest free source of funding?
Yes, accounts payable are very famous and cheapest source of short term borrowing as normally for repayment of accounts payable not any or some times very small percentage of interest is attached as compare to other sources of short term finances.
Does accounts receivable normally have a credit balance?
no
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.
Do expense accounts normally have a credit balance?
yes
Does an expense normally have a credit or debit balance?
Expenses maintain a debit balance. They are opposite accounts to Revenue which maintains a credit balance. Gross Income (Gross Revenue) - Expenses = Net Income
Are accounts payable an interest free source of funding?
Yes, accounts payable are very famous and cheapest source of short term borrowing as normally for repayment of accounts payable not any or some times very small percentage of interest is attached as compare to other sources of short term finances.
Why you might save money in a saving account?
It's useful to save money so that when you need to buy something or pay a bill, you will have the money to do so. Savings accounts as compared to checking accounts will normally pay a higher interest rate (although at the moment, in Feb. 2013, interest rates are quite low).
Can accounts receivable normally have a debit balance?
Accounts receivable in an asset account and normally maintains a debit balance. So the answer is Yes.
Does accounts receivable normally have a credit balance?
no
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.
Do expense accounts normally have a credit balance?
yes
Is interest receivable a long term or short term asset?
Interest receivable is normally a current asset as interest are normally collected within one fiscal year.
Does an expense normally have a credit or debit balance?
Expenses maintain a debit balance. They are opposite accounts to Revenue which maintains a credit balance. Gross Income (Gross Revenue) - Expenses = Net Income
Following normally has a credit balance?
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.
Is LIBOR normally higher or lower than the US prime interest rate?
It is normally higher than the US prime interest rate.
Are accounts normally decreased by debits?
All credit accounts are decrease by debits while all debit accounts are increased by debits and vice versa.
On the bank's accounting records customers' accounts are normally shown as?
Liability
