Which of the following are the normal balances of Sales,Sales discounts,and Sales returns and allowances,respectively?
A) Debit, credit, and credit
B) Debit, debit, and credit
C) Credit, debit, and debit
D) Credit, credit, and debit

Question

Quizplus · Accepted Answer

- Sales have a credit normal balance as it represents revenue earned from selling goods or providing services.
- Sales discounts have a debit normal balance as it represents a reduction in revenue due to offering discounts to customers.
- Sales returns and allowances have a debit normal balance as it represents a reduction in revenue due to returns or allowances granted to customers.

Which of the Following Are the Normal Balances of Sales,Sales