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 Payable 2. Cash 3. Dividends 4. Miscellaneous Expense 5. Insurance Expense 6. Fees Earned