Question

which of the following accounts has a normal credit balance? Select one: a. Purchase b. Sales...

which of the following accounts has a normal credit balance?

Select one:

a. Purchase

b. Sales Return and allowance

c. Discount received

d. Freight-in

e. None of the above

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Answer #2

Answer :- c. Discount Received Account has a normal credit balance because it is an income account and Incomes are always credited . Therefore , discount received account has credit balance.

  • Purchase Account includes purchases of goods which always has Debit Balance.
  • Sales Account has always credit balance , therefore Sales Return and allowance has always debit balance.
  • Freight - in are the Expenses and Expenses are always Debited and therefore Frieight -in Account has always debit balance.

Correct answer is c. Discount Received.

answered by: anonymous
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