Question: Assuming normal account balances, the following statement is true when balancing a T - account or Ledger? Answer Liabilities normally have credit balances. Assets normally

Assuming normal account balances, the following statement is true when balancing a T-account or Ledger?
Answer
Liabilities normally have credit balances.
Assets normally have credit balances.
Expenses normally have credit balances.
Withdrawals normally have credit balances.

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