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The normal balance in a "due from" account, which typically represents amounts owed to a business by customers or other entities, is a debit balance. This reflects the expectation that these amounts will be collected in the future. If the balance were to become a credit, it would indicate an overpayment or an adjustment that may need further investigation.
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What is the normal balance of a withdrawal?
Drawings account has a normal balance as a reverse of owners equity account which is debit balance as a normal balance.
What is the normal balance of drawing?
Drawings is a contra account. Debit is the normal balance of Drawing account.
What is the normal account balance of Income Summary?
It has no normal balance.
What is the normal balance of a additional paid-in capital account?
Additional Paid-in Capital is a normal credit balance account.
What is the normal balance of the merchandise inventory account?
Merchandise Inventory is an asset account, so the normal balance is Debit.
What is the normal balance of a withdrawal?
Drawings account has a normal balance as a reverse of owners equity account which is debit balance as a normal balance.
What is the normal balance of drawing?
Drawings is a contra account. Debit is the normal balance of Drawing account.
What is the normal account balance of Income Summary?
It has no normal balance.
What is the normal balance of a additional paid-in capital account?
Additional Paid-in Capital is a normal credit balance account.
What is the normal balance of the merchandise inventory account?
Merchandise Inventory is an asset account, so the normal balance is Debit.
What is the normal balance of a liabilty account?
A liability account normally has a credit balance.
What is the normal balance of a cash account?
Cash account normally has debit balance.
What is the normal balance of a capital account?
Capital account has credit balance as a normal balance of account as it is the amount company requires to return back to it's owner at the time of liquidation.
What is the normal balance in an investment account?
debit balance
Is a petty cash account an asset with a normal credit balance?
Petty Cash is an asset account with a normal Debit balance.
What is the normal balance of an account receivable account?
Debit
Sales is what type of account?
Sales is a revenue account and has a credit balance as a normal balance.
