Which of the following accounts has a normal credit balance

Posted By Admin @ September 03, 2022

Question:

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

Answer:

The account that have a normal credit balance is account payable, capital account, and sales.

Normal balance:

  • The assets, expenses, and losses contains the normal debit balance.
  • While on the other hand, the liabilities, revenues, and profits contains the normal credit balance.
  • Therefore, the option b,option e, and option F is correct.  

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