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Corporate Financial Accounting 14th Edition by Carl Warren,James Reeve,Jonathan Duchac
Edition 14ISBN: 978-1305653535Corporate Financial Accounting 14th Edition by Carl Warren,James Reeve,Jonathan Duchac
Edition 14ISBN: 978-1305653535 Exercise 11
Rules of debit and credit and normal balances
State for each account whether it is likely to have (A) debit entries only, (B) credit entries only, or (C) both debit and credit entries. Also, indicate its normal balance.
1. Accounts Payable
2. Cash
3. Dividends
4. Miscellaneous Expense
5. Insurance Expense
6. Fees Earned
State for each account whether it is likely to have (A) debit entries only, (B) credit entries only, or (C) both debit and credit entries. Also, indicate its normal balance.
1. Accounts Payable
2. Cash
3. Dividends
4. Miscellaneous Expense
5. Insurance Expense
6. Fees Earned
Explanation
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In double entry accounting system, each ...
Corporate Financial Accounting 14th Edition by Carl Warren,James Reeve,Jonathan Duchac
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