which of the following accounts normally has a credit balance course hero

Which accounts normally has a credit balance?

Liability, revenue, and owner's capital accounts normally have credit balances. To determine the correct entry, identify the accounts affected by a transaction, which category each account falls into, and whether the transaction increases or decreases the account's balance.

Which of the following accounts normally has a credit balance accounts receivable?

The owner's capital account (and the stockholders' retained earnings account) will normally have credit balances and the credit balances are increased with a credit entry.

Which of the following accounts normally has a credit balance notes payable?

20. Which of the following accounts normally has a credit balance? Rationale:Assets, dividend, and expense accounts normally have debit balances, whereas liabilities, common stock, and revenue accounts normally have credit balances. Notes payable is a liability account, so the normal balance would be a credit balance.

Which one of the following general ledger accounts has a normal credit balance?

Asset accounts normally have debit balances, while liabilities and capital normally have credit balances. Income has a normal credit balance since it increases capital . The numbers to the left of zero are negative and they get bigger as they go to the left.

Which accounts normally have credit balances quizlet?

Credit: Liabilities, revenues and sales, gains, and owner equity and stockholders' equity accounts normally have credit balances. These accounts will see their balances increase when the account is credited.

Does accounts receivable normally have a credit balance?

Accounts Receivable will normally (In your class ALWAYS) have a debit balance because it is an asset.