Rules of debit and credit and normal balances OBJ. 2 State for each account whether it is
Question:
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
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Related Book For
Financial And Managerial Accounting
ISBN: 9781305267831,9781305267848
13th Edition
Authors: Carl S. Warren , James M. Reeve , Jonathan Duchac
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