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Carefully analyze the following account balances extracted from the books of Mr. Rashid and answer the questions below: Name of the accounts Amount (OMR) Capital
Carefully analyze the following account balances extracted from the books of Mr. Rashid and answer the questions below: Name of the accounts Amount (OMR) Capital 60,000 Commission revenue 20,000 Rent expense 16,000 Accounts payable 60,000 Machinery 104,000 Long term liabilities 20,000 Cash 40,000 1. Which accounts from the above schedule will have a debit balance? 2. Which accounts from the above schedule will have a credit balance? (1 Mark) 3. What is the total amount of debit accounts? (1 Mark)
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