The normal balances of Sales,Sales Discounts,and Sales Returns and Allowances are ________.
A)debit,credit,and credit,respectively
B)debit,debit,and credit,respectively
C)credit,debit,and debit,respectively
D)credit,credit,and debit,respectively

Question

Quizplus · Accepted Answer

The normal balance of Sales is credit because it represents the revenue earned by the business. 
The normal balance of Sales Discounts is a contra-revenue account, which means it has the opposite balance of Sales. Since Sales has a credit balance, Sales Discounts has a debit balance. 
The normal balance of Sales Returns and Allowances is also a contra-revenue account and has a debit balance because it represents the reductions in revenue due to returns and allowances. Therefore, the correct option is C - credit, debit, and debit respectively.

The Normal Balances of Sales,Sales Discounts,and Sales Returns and Allowances