The classification and normal balance of the accounts receivable account is:
A)an asset with a debit balance.
B)a revenue with a debit balance.
C)a liability with a debit balance.
D)an asset with a credit balance.

Question

Quizplus · Accepted Answer

Accounts receivable is classified as an asset because it represents money owed to the company by its customers. It has a normal debit balance, reflecting an increase when sales are made on credit.

The Classification and Normal Balance of the Accounts Receivable Account