Which of the following accounts have normal credit balances?
A)Accounts Payable and Equipment
B)Salaries Expense and Accounts Payable
C)Fees Income and John Smith, Capital
D)Accounts Receivable and Fees Income

Question

Quizplus · Accepted Answer

In accounting, accounts that normally have a credit balance include liabilities, revenues, and equity accounts. In option C, "Fees Income" is a revenue account and "John Smith, Capital" is an equity account, both of which typically have credit balances.

Which of the Following Accounts Have Normal Credit Balances