Friday, October 9, 2020

How many of these accounts have a normal credit balance?

Consider the following list of accounts:


Accounts Payable

Cash

Prepaid Rent

Common Stock

Salaries Payable

Equipment

Supplies

Rent Expense


How many of these accounts have a normal credit balance?


A) Two.

B) Three.

C) Four.

D) Five.


Answer: B

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