Which of the following statements is incorrect? a. The normal balance of the receivable account is a
Question:
Which of the following statements is incorrect?
a. The normal balance of the receivable account is a debit.
b. The normal balance of the owner’s personal account is a debit.
c. The normal balance of an unearned revenues account is a credit.
d. The normal balance of an expense account is a credit.
e. All of the above statements are correct.
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In accounting each account has a normal balance Assets have a normal debit balance while liabiliti...View the full answer
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