Example Exercise $2-1$

State for each account whether it is likely to have $($a$)$ debit

entries only, $($b$)$ credit entries only, or $($c$)$ both debit and

Example Exercise $2-1$

State for each account whether it is likely to have $($a$)$ debit

entries only, $($b$)$ credit entries only, or $($c$)$ both debit and

She

How

credit entries. Also indicate its normal balance.

Accounts Receivable

Commissions Earned

Heidi Schmidt, Capital

Rent Expense

Rent Revenue

Wages Payable

credit entries. Also indicate its normal balance.

Accounts Receivable

Commissions Earned

Heidi Schmidt, Capital

Rent Expense

Rent Revenue

Wages Payable