Asked by

Brianne Wagner
on Nov 15, 2024

verifed

Verified

An account will have a credit balance if the

A) credits exceed the debits.
B) first transaction entered was a credit.
C) debits exceed the credits.
D) last transaction entered was a credit.

Credit Balance

A situation where the total credits in an account exceed the total debits, often indicating the amount owed to a creditor.

Debits

Accounting entries that increase an asset or expense account, or decrease a liability or equity account, on a company's balance sheet.

  • Determine the normal balance of various account types.
verifed

Verified Answer

AA
Alexis AlonsoNov 21, 2024
Final Answer:
Get Full Answer