WebA credit is used to record an increase in all of the following accounts except: A. Accounts Payable B. Service Revenue C. Unearned Revenue D. Wages Expense E. Common Stock Classify the Fees Earned account as a revenue, an expense, an asset, a … WebVerified answer. accounting. Assume that Yvonne Dauphin, accounts payable clerk for Bedell Inc., stole \$73,250 $73,250 by paying fictitious invoices for goods that were …

What types of accounts normally have a debit balance

Webc) Debit Unearned Rent and credit Rent Revenue, $3,000 d) Debit Unearned Rent and credit Rent Revenue, $4,200. 2. Baker Corp.'s liability account balances at June 30, 20x2 included a 10 percent note payable in the amount of $1,000,000. The note is dated October 1, 20x0 and interest is payable each October 1. The first interest payment was made ... WebMar 23, 2024 · If it is a monthly publication, as each periodical is delivered, the liability or unearned revenue is reduced by $100 ($1,200 divided by 12 months) while revenue is increased by the same amount. fisherman funeral wreath

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WebShow whether the normal balance is a debit or a credit. Indicate whether the account would appear in the balance sheet or in the income statement, and under what classification, e.g. liability, asset, equity, income or expense. ... Capital Interest payable 0 Service Revenue Unearned Service : Balance sheet (liability) Revenue Mortgage loan 9 Q ... WebFeb 25, 2024 · Debit-credit analysis. According to the debit-credit rule, the increase in assets is debited. The asset of $1,200 cash becomes available in FAC. In accounting terms, the … WebUnearned revenue is a credit entry. Since unearned revenue is a liability for the business, its initial entry would be a credit to the unearned revenue account and a debit to the cash … canadian tire bread maker sale