Indicate whether each of the following accounts normally has a debit balance or a credit balance: a.

Question:

Indicate whether each of the following accounts normally has a debit balance or a credit balance:
a. Sales Revenue
b. Rent Expense
c. Prepaid Rent
d. Bank Loan
e. Investment in Shares of X Company
f. Retained Earnings
i. Dividends Declared
j. Dividends Payable
k. Depreciation Expense Accounts Payable
Accounts payable (AP) are bills to be paid as part of the normal course of business.This is a standard accounting term, one of the most common liabilities, which normally appears in the balance sheet listing of liabilities. Businesses receive... Accounts Receivable
Accounts receivables are debts owed to your company, usually from sales on credit. Accounts receivable is business asset, the sum of the money owed to you by customers who haven’t paid.The standard procedure in business-to-business sales is that...