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For each of the following accounts, signify DEBIT or CREDIT to indicate the normal balance of the account. 1 Accounts recievable Multiple Choice Answer Options:
For each of the following accounts, signify DEBIT or CREDIT to indicate the normal balance of the account. | |||
1 | Accounts recievable | Multiple Choice Answer Options: | |
2 | Credit card expense | a. Credit | |
3 | bad debt expense | b. Debit | |
4 | allowance for doubtful debts | ||
5 | Notes receivable (due in 180 days) | ||
6 | interest revenue | ||
7 | depreciation expense | ||
8 | building | ||
9 | equipment | ||
10 | accumulated depreciation | ||
11 | Loss of disposal of equipment | ||
12 | Gain on disposal of equipment | ||
13 | Sales revenue | ||
14 | Patent | ||
15 | Copyright | ||
16 | Amortization expense | ||
17 | estimated warranty liability (3 year warranty) | ||
18 | social security taxes payable | ||
19 | notes payable (due in 180 days) |
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