Question: To enter an contra balance ( a decrease ) to an Asset, Liability, Equity or Revenue account ( normal debit balance ) you must: (

To enter an contra balance (a decrease) to an Asset, Liability, Equity or Revenue account (normal debit balance) you must:
(1 Point)
ou can not make contra entries to these types of accounts
Back up your program before continuing
enter the amount in parenthesis ()
enter the amount with a negative

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!