Which account has a normal credit balance?a) Suppliesb) Accounts Payablec) Rent Expensed) Land

Explanation of Supplies:Supplies are considered a current asset and represent items that a company…

Answered: Which account has a normal credit…

Century 21 Accounting Multicolumn Journal

11th Edition

ISBN:9781337679503

Author:Gilbertson

Publisher:Gilbertson

Chapter4: Posting To A General Ledger

Section4.3: Posting Column Totals From A Journal To A General Ledger

Problem 3AYU

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Explain what is meant by the term real accounts (also known as permanent accounts).
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Which account has a normal credit balance? a) Supplies b) Accounts Payable c) Rent Expense d) Land