In trial balance, which accounts with is/are recorded at the credit side?
I.Sales
II.Sales return
III.Cash
IV.Loan
A)Only I and II
B)All of these
C)Only I,II and IV
D)Only I and IV

Question

Quizplus · Accepted Answer

In a trial balance, sales (I) are recorded on the credit side because they increase the business's income, and loans (IV) are also recorded on the credit side as they represent a liability or source of funds. Sales returns (II) and cash (III) are recorded on the debit side, with sales returns reducing income and cash being an asset.

In Trial Balance, Which Accounts with Is/are Recorded at the Credit