Multiple Choice
A company has a $26,329 debit balance in the payable accounts. Given this information, which of the following is a TRUE statement?
A) It is NOT normal for payable accounts to have a debit balance
B) Not enough information provided, since normal account balances are different for each company.
C) Payable accounts don't tend to run this high, so this is not a normal balance.
D) It is ALWAYS normal for payable accounts to have a debit balance.
Correct Answer:
Verified
Correct Answer:
Verified
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