Below is a list of common accounts. Required: Indicate whether the normal balance of each account is a debit or a credit. Accounts 1. Cash 2. Service revenue 3. Salaries expense 4. Accounts payable 5. Equipment 6. Retained earnings 7. Utilities expense 8. Accounts receivable 9. Dividends 10. Common stock Debit or Credit
Below is a list of common accounts. Required: Indicate whether the normal balance of each account is a debit or a credit. Accounts 1. Cash 2. Service revenue 3. Salaries expense 4. Accounts payable 5. Equipment 6. Retained earnings 7. Utilities expense 8. Accounts receivable 9. Dividends 10. Common stock Debit or Credit
Financial Accounting: The Impact on Decision Makers
10th Edition
ISBN:9781305654174
Author:Gary A. Porter, Curtis L. Norton
Publisher:Gary A. Porter, Curtis L. Norton
Chapter3: Processing Accounting Information
Section: Chapter Questions
Problem 3.6E: Normal Account Balances Each account has a normal balance. For the following list of accounts,...
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