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What kind of an account (asset liability etc.) is Allowance for Doubtful Accounts and is its normal balance a debit or a credit?
What kind of an account (asset, liability, etc.) is Allowance for Doubtful Accounts, and is its normal balance a debit or a credit?
What is the type of account in normal balance of allowance for doubtful accounts?
contra asset, credit
What is the normal balance for accounts payable?
Accounts payable is a liability account and all liability accounts have credit balance as normal balance so accounts payable is also credit as a normal balance
What is normal balance of a revenue?
All revenue accounts has credit balance as a normal balance
A credit is not the normal balance for what accounts?
A credit is not the normal balance for asset accounts and expense accounts. Assets typically have a normal debit balance, meaning they increase with debits and decrease with credits. Similarly, expenses also increase with debits and decrease with credits, making credits the opposite of their normal balance. In contrast, liability and equity accounts normally have credit balances.
What kind of an account (asset liability etc.) is Allowance for Doubtful Accounts and is its normal balance a debit or a credit?
What kind of an account (asset, liability, etc.) is Allowance for Doubtful Accounts, and is its normal balance a debit or a credit?
What is the type of account in normal balance of allowance for doubtful accounts?
contra asset, credit
Allowance for doubtful accounts is what type of account?
Asset Contra account to Accounts Receivable (Contra-Asset). Normal balance is credit.
What is the normal balance for accounts payable?
Accounts payable is a liability account and all liability accounts have credit balance as normal balance so accounts payable is also credit as a normal balance
What is normal balance of a revenue?
All revenue accounts has credit balance as a normal balance
What is the normal balance of an account in the accounts payable subsidiary ledger?
Accounts receivables has debit balance as normal balance of account and shown in current assets in balance sheet.
A credit is not the normal balance for what accounts?
A credit is not the normal balance for asset accounts and expense accounts. Assets typically have a normal debit balance, meaning they increase with debits and decrease with credits. Similarly, expenses also increase with debits and decrease with credits, making credits the opposite of their normal balance. In contrast, liability and equity accounts normally have credit balances.
The classification and normal balance of the accounts payable account is?
The classification of Accounts Payable is liability, and a current liability, it has a normal credit balance, and is found on the Balance Statement as a permanent account.
Are accounts payable a credit or debit?
Accounts Payable is a Liability and therefore its normal balance is a Credit on the Balance Sheet
What is the normal balance of rent revenue?
Rent is a revenue account and like all revenue accounts it has credit balance as normal balance.
The normal balance of revenue accounts is a credit?
True.
Does accounts payable have a normal debit balance?
yes
