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Which Of The Following Accounts Has A Credit Balance? - Erudites Academy

Which of the following accounts has a credit balance?

by | Mar 19 | Accounting WAEC | 0 comments

A. Capital
B. Cash
C. Drawings
D. Premises

Correct Answer: Option A

A. Capital

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 normally have credit balances. Income has a normal credit balance since it increases capital.

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