Does accounts receivable have a normal debit or credit balance

Asked by admin @ 29/10/2021 in Business viewed by 324 People

Account(s) with a normal credit balance include:_________. A) Accounts Receivable B) Allowance for Uncollectible Accounts C) Bad Debt Expense D) Cash E) Sales Revenue

Answered by admin @ 29/10/2021

Answer:

E) Sales Revenue

Explanation:

As we know that

The normal debit balance records the asset side, expenses side while the normal credit balance records the revenue side, stockholder equity

As in the given situation, the sales revenue has only the normal credit balance.

The other item except the allowance for uncollectible accounts have a debit balance. The allowance for uncollectible accounts has contra asset account.

A credit is not the normal balance for which account

Asked by admin @ 10/11/2021 in Business viewed by 312 persons

Assuming normal balances, which of the following statements is not true for T accounts? a.The excess of the credits of a liability account over the debits is the balance of …

Which of the following accounts has a normal debit balance

Asked by admin @ 26/11/2021 in Business viewed by 376 persons

Which accounts have a normal credit balance? choose all answers that are correct A) Supplies B) Accounts Payable C) Cash D) Insurance E) Capital F) Sales

Which of the following accounts normally has a debit balance

Asked by admin @ 26/11/2021 in Business viewed by 328 persons

For the following, mark a "D" if the following account normally has a debit balance and mark a "C" if the following account normally has a credit balance. 1. Notes …

The normal balance of an expense account is a credit

Asked by admin @ 10/11/2021 in Business viewed by 277 persons

For the accounts listed below, indicate if the normal balance of the account is a debit or credit. Accounts Normal Balance 1. Service Revenue 2. Rent Expense 3. Accounts Receivable …

Which of the following accounts has a normal credit balance

Asked by maham237 @ 01/01/2021 in Business viewed by 325 persons

Which of the following types of accounts have a normal credit balance? A. liabilities and expenses B. common stock and dividends C. revenues and common stock D. assets and liabilities

Sales discounts is a revenue account with a credit balance

Asked by admin @ 22/11/2021 in Business viewed by 311 persons

The Sales Discounts Forfeited account ________. Select one: A. represents additional sales revenue B. is a contra Sales Revenue account C. is a balance sheet account D. represents the discount …

An account is said to have a debit balance if

Asked by admin @ 03/10/2021 in Business viewed by 319 persons

An account is said to have a debit balance if a) its normal balance is debit without regard to the amounts or number of entries on the debit side. b) …

The credit balance of income and expenditure account

Asked by admin @ 26/08/2021 in Accountancy viewed by 486 persons

The credit balance of an income and expenditure account indicates Deficit

Which of the following accounts have only credit balance

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Which of the following accounts have only credit balance? (a) Reserve fund account (b) Capital account (c) Accounts payable (d) All of these

The account type and normal balance of unearned revenue is

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The account type and normal balance of unearned revenue is?

Any credit balance in a vendor subsidiary account is an unpaid balance owed

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true or false.

What is the normal balance side of an asset account

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What is the normal balance side of an asset?

Accounts receivable is classified on the balance sheet as a

Asked by admin @ 28/10/2021 in Business viewed by 308 persons

Show how Accounts Receivable, Notes Receivable, and their related accounts would be reported in the current assets section of a classified balance sheet at the end of the quarter on …

Bank overdraft is debit or credit in trial balance

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In trial balance bank overdraft is debit or credit

Debit the receiver credit the giver is rule for

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Foolproof module 9 test answers

Asked by maham237 @ 31/12/2020 in Business viewed by 3326 persons

Able, baker, and charles are engaged in the marketing to and enrollment of beneficiaries into medicare health plans. mr. able is an independent agent paid directly by a health plan. ms. baker is an independent agent paid through a field marketing organization (fmo). mr. charles is an independent agent paid for his work by a third-party marketing organization (tmo). how do the cms compensation rules apply to these three agents?

Asked by maham237 @ 13/01/2021 in Business viewed by 2747 persons

Does accounts receivable have a normal debit or credit balance

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