State for each account whether it is likely to have (a) debit entries only, (b) credit entries

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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. Dividends
4. Miscellaneous Expense
5. Insurance Expense
6. Fees Earned

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Corporate Financial Accounting

ISBN: 978-1133952411

12th edition

Authors: Carl S. Warren, James M. Reeve, Jonathan E. Duchac

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Question Posted: Oct 14, 2022 08:33 AM

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State for each account whether it is likely to have (a) debit entries only, (b) credit entries

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1 Accounts Payable Credit entries only normal balance is a credit 2 Cash Both debit and credit entries normal balance is a debit 3 Dividends Credit en...View the full answer

Corporate Financial Accounting

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