Which of the following accounts has a credit balance?
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Correct Answer: Option A
Explanation:
Normal balance is the side where the balance of the account is normally found. Asset accounts normally have debit balances, while liabilities and capital normallyhave credit balances. Income has a normal credit balance since it increasescapital .
Normal balance is the side where the balance of the account is normally found. Asset accounts normally have debit balances, while liabilities and capital normallyhave credit balances. Income has a normal credit balance since it increasescapital .