Which of the following groups of accounts have a normal debit balance?
A) Revenues and Liabilities
B) Owners' Equity and Assets
C) Liabilities and Expenses
D) Assets and Expenses
Correct Answer:
Verified
Q22: When accounts receivable are collected,
A) Total assets
Q23: When a note payable is given to
Q24: The supplies expense account
A) Normally has a
Q25: Revenue accounts are
A) Increased with debit entries
B)
Q26: An entry to the right side of
Q28: Expense and revenue accounts can be considered
Q29: Usually, when accounts receivable are collected, an
Q30: When equipment is purchased with a cash
Q31: Which of the following accounts would normally
Q32: Which of the following is true?
A) Assets
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