Asked by
Georgia Anderson
on Nov 18, 2024
Verified
The normal balance of revenue accounts is a credit.
Revenue Accounts
Accounts that track the income earned by a business from its operational activities, such as sales of goods or services.
Credit
An accounting entry that increases the balance of liabilities and equity accounts, or decreases the balance of an asset or expense account.
- Specify the elements and natural balances of different categories of accounts, including assets, liabilities, equity, revenue, and expenses.
Verified Answer
IB
Learning Objectives
- Specify the elements and natural balances of different categories of accounts, including assets, liabilities, equity, revenue, and expenses.
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