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Question 2.1: Rules of Debit and Credit and Normal Balances State for each......

Rules of Debit and Credit and Normal Balances

State for each account whether it is likely to have (a) debit entries only, (b) credit entries only, or (c) both debit and credit entries. Also, indicate its normal balance

.1. Amber Saunders, Drawing                        4. Fees Earned

2. Accounts Payable                                        5. Supplies

3. Cash                                                                6. Utilities Expense

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1. Debit entries only; normal debit balance

2. Debit and credit entries; normal credit balance

3. Debit and credit entries; normal debit balance

4. Credit entries only; normal credit balance

5. Debit and credit entries; normal debit balance

6. Debit entries only; normal debit balance

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