For the following accounts please indicate whether the normal balance is a debit or a credit.A. SalesB. DividendsC. ffice SuppliesD. Retained EarningsE. Accounts ReceivableF. Prepaid RentG. Prepaid InsuranceH. Wages Payable1. BuildingJ. Wages Expense

Introduction: Each and business every transactions effects minimum two entries. 1 ) Debit 2 )…

For the following accounts please indicate whether the normal balance is a debit or a credit. A. Sales B. Dividends C. Office Supplies D. Retained Earnings E. Accounts Receivable F. Prepaid Rent G. Prepaid Insurance H. Wages Payable

For the following accounts please indicate whether the normal balance is a debit or a credit. A. Sales B. Dividends C. Office Supplies D. Retained Earnings E. Accounts Receivable F. Prepaid Rent G. Prepaid Insurance H. Wages Payable

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter3: The Double-entry Framework

Section: Chapter Questions

Problem 4SEB: NORMAL BALANCE OF ACCOUNT Indicate the normal balance (debit or credit) for each of the following...

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Concept explainers

Bookkeeping

Bookkeeping is the process of recording the financial transactions of a company on a regular basis. With the process of bookkeeping, companies can track important financial information that helps management in making crucial decisions.

Question

For the following accounts please indicate whether the normal balance is a debit or a credit.
A. Sales
B. Dividends
C. ffice Supplies
D. Retained Earnings
E. Accounts Receivable
F. Prepaid Rent
G. Prepaid Insurance
H. Wages Payable
1. Building
J. Wages Expense

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