Can I ask normal balance part for accounts payable, which one I should choose? credit or debit? why

Q: Why did you select those customer accounts?  also how to use a cell reference to enterthe answer…

A: The customers which require management attention are  C1004, C1006, C1010, C1013, C1045, C1048,…

Q: Is Accounts Payable a credit, a debit, or both?

A: Current liability: It implies to the debt obligation that is to be repaid within a span of one year.…

Q: What are some common types of receivables other than accounts receivable and notes receivable?

A: Receivables are the amount due to be received in future such as accounts receivable, notes…

Q: What exactly is a real account?

A: There are basically three account types in accounting, that are real account, nominal account and…

Q: How do debits and credits work

A: Debit and credit entry are part of double entry book keeping system. This is used to make an entry…

Q: “Credit card” (with an outstanding balance) would be which type of account? a.Proprietary…

A: Introduction: Credit card is a source of short term financing which is unsecured in nature. As these…

Q: How are sales to customers using credit cards recorded?

A: Net sales means the amount of revenue earned and cost of goods sold means the cost of goods which…

Q: what is accounts payable?

A: Liabilities: The claims creditors have over assets or resources of a company are referred to as…

Q: he Accounts Question: Why should debits t

A: Debits to expense accounts should exceed the credits because expenses represent the costs incurred…

Q: Which of the following documents is issued by a customer to provide information about the  nature of…

A: Every transaction that takes place in a business should be recorded appropriately in the books of…

Q: If a journal entry includes a debit or credit to the Cash account, it is most likely which of the…

A: Answer:  If a journal entry includes a debit or credit to the Cash account, it is most likely an…

Q: DO DEBITS AND CREDITS HAVE TO EQUAL ON A TRIAL BALANCE??

A: Trial balance: Trial balance is a summary of all the asset, liability, and equity accounts and their…

Q: Hello. I need assistance comprehending when to debit an account and when to credit. How do you know…

A: The rule of debit and credit are as follows

Q: Assume that Sample Company purchased factory equipment on January 1, 2017, for $90,000. The…

A: “Since you have asked multiple question, we will solve the first question for you. If you want any…

Q: Which of the following transactions will require a journal entry? Indicate if it will be a debit or…

A: Journal Entry: Journal entry is the act of keeping records of transactions in an accounting journal.…

Q: what is the entry for purchase of supplies on account? * O debit supplies, credit cash O debit…

A: The journal entries are prepared to keep the record of day to day transactions of the business.

Q: Is Accounts Payable a debit, a credit, or a combination of the two?

A: Account payable has always a credit balance. It is liability for a person who have acquired some…

Q: What is debit and credit note?

A: A debit note is a document that is issued by a seller to a buyer. The debit note is used to inform…

Q: On a balance sheet what does a line of credit do to the balance sheet does it offset notes payable?

A: A line of credit is an important aspect of accounting in  which the lender and the borrower come…

Q: How did you get Accounts Receivable and Sales?

A: Account receivable is the amount which is to be received from the customers or the customers who…

Q: ow to record credit sale in an entrie?

A: Credit sales mean the amount which is delayed to paid but agreed to pay in future by the consumer.

Q: How does the rule of debit and credit relative to accounting equation?

A: Accounting equation:   It is a mathematical expression that presented all assets of the firm are…

Q: Explain the measurement of accounts receivable. (Write a complete thought or answer)

A: Account receivable is shown in the balance sheet as assets. Account receivables is the total…

Q: What’s the difference between accounts payable and receivable?

A: If you use the accrual accounting system, you will have to deal with accounts receivable and…

Q: Levine Company uses the perpetual inventory system. Apr. 8 Sold merchandise for $4, 200 (that had…

A: Date General Journal  Debit Credit Apr 08  Cash 4032     Credit card expense 168     Sales…

Q: What is a receivable?  List two types of receivables and their definitions.

A: Note: Since you have posted multiple questions, we will solve the first question. Please submit a…

Q: Difference between a debit and a credit.

A: Debit and credit are the two aspects of a transaction and a ledger account. The short form used for…

Q: How are credit balances in accounts receivable reported on the financial statements?

A: Sales is the revenue being earned by the business on delivery of goods and services by the business.…

Q: Explain what is meant by the term real accounts(also known as permanent accounts).

A: Accounting involves recording business transactions in books of accounts.  The first steps of…

Bookkeeping

Bookkeeping is the process of recording the financial transactions of a company on a regular basis. With the process of bookkeeping, companies can track important financial information that helps management in making crucial decisions.