List the accounts names for the following transaction and determine which is a debit or credit: 1. Interest on notes payable should be accrued                          $300

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Q: OA $27,800 OB. $3,100 OC. $3,140 OD. $3,000

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Q: For the following accounts please indicate whether the normal balance is a debit or a credit. Wages…

A: ACCOUNT NORMAL BALANCE ASSET DEBIT EXPENSE DEBIT LIABILITY CREDIT INCOME CREDIT

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Bookkeeping

Bookkeeping is the process of recording the financial transactions of a company on a regular basis. With the process of bookkeeping, companies can track important financial information that helps management in making crucial decisions.