Which type of account is credited when a company pays its employees?
A) an asset account
B) an expense account
C) a liability account
D) the owners' equity account
Correct Answer:
Verified
Q22: Interest payable, income tax payable and salary
Q23: What is the first step in the
Q24: The account credited when supplies are purchased
Q25: A trial balance is:
A) a list of
Q26: The normal balance of the Supplies account
Q28: A credit decreases the balance of which
Q29: Accounting transactions are first recorded in a
Q30: When a business sells inventory in exchange
Q31: Which type of account is credited when
Q32: The payment for rent of the office
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