Rules of debit and credit and normal balances Obj. 2 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 Accounts Receivable 2 Commissions Earned 3 Notes Payable 4 Common Stock 5 Rent Revenue 6 Wages Expense.

AppendixLO1