A credit balance in which of the following accounts would likely indicate an error?
A) Fees Earned
B) Salary Expense
C) Janet James, Capital
D) Accounts Payable

Question

Quizplus · Accepted Answer

A credit balance in Salary Expense would likely indicate an error because expense accounts typically have a debit balance. Expenses increase with debits and decrease with credits, so a credit balance would be unusual and may suggest a mistake in recording transactions.

A Credit Balance in Which of the Following Accounts Would