For each of the following accounts, indicate whether its normal balance is on the credit side or the debit side of the T account.
-Accounts Payable
A)Credit side
B)Debit side

Question

Quizplus · Accepted Answer

Accounts Payable represents a liability, meaning a debt that the company owes to its creditors. As liabilities have normal credit balances, Accounts Payable has a normal balance on the credit side.

For Each of the Following Accounts, Indicate Whether Its Normal