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Accounting 26th Edition by Carl Warren ,Jim Reeve ,Jonathan Duchac
Edition 26ISBN: 978-1337498159Accounting 26th Edition by Carl Warren ,Jim Reeve ,Jonathan Duchac
Edition 26ISBN: 978-1337498159 Exercise 17
A Rules of debit and credit and normal balances
State for each account whether it is likely to have (a) debit entries only, (b) credit entries only, or (c) both debit and credit entries. Also, indicate its normal balance.
1. Accounts Receivable
2. Commissions Earned
3. Notes Payable
4. Patricia Mayer, Capital
5. Rent Revenue
6. Wages Expense
B Rules of debit and credit and normal balances
State for each account whether it is likely to have (a) debit entries only, (b) credit entries only, or (c) both debit and credit entries. Also, indicate its normal balance.
1. Accounts Payable
2. Cash
3. Del Robinson, Drawing
4. Miscellaneous Expense
5. Insurance Expense
6. Fees Earned
State for each account whether it is likely to have (a) debit entries only, (b) credit entries only, or (c) both debit and credit entries. Also, indicate its normal balance.
1. Accounts Receivable
2. Commissions Earned
3. Notes Payable
4. Patricia Mayer, Capital
5. Rent Revenue
6. Wages Expense
B Rules of debit and credit and normal balances
State for each account whether it is likely to have (a) debit entries only, (b) credit entries only, or (c) both debit and credit entries. Also, indicate its normal balance.
1. Accounts Payable
2. Cash
3. Del Robinson, Drawing
4. Miscellaneous Expense
5. Insurance Expense
6. Fees Earned
Explanation
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The transactions are recorded in the boo...
Accounting 26th Edition by Carl Warren ,Jim Reeve ,Jonathan Duchac
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