Friday, October 9, 2020

How many of these accounts have a normal debit balance?

Consider the following list of accounts:


Cash

Service Revenue

Salaries Expense

Accounts Payable

Equipment

Retained Earnings

Utilities Expense

Accounts Receivable

Common Stock

Dividends


How many of these accounts have a normal debit balance?


A) Four.

B) Five.

C) Six.

D) Seven.


Answer: C

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