The Accounts Payable account:
A)has a normal credit balance.
B)is increased by a debit.
C)is an asset.
D)is increased when a company receives cash from customers.

Name: The Accounts Payable account: A)has a normal credit balance. B)is increased by a debit. C)is an asset. D)is increased when a company receives cash from customers.
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Question

Quizplus · Accepted Answer

Accounts Payable is a liability account.All liability accounts have a normal credit balance and are increased by credits.

The Accounts Payable Account