Rules of debit and credit and normal balances State for each account whether it is likely to

Question:

Rules of debit and credit and normal balances
State for each account whether it is likely to have
(a) Debit entries only,
(b) Credit entries only, or
(c) Both debit and credit entries. Also, indicate its normal balance.
1. Commissions Earned
3. Notes Payable
4. Patricia Mayer, Capital
5. Rent Revenue
6. Wages Expense
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...