The accounts payable account is a/an _______, and it has a normal ________ balance.

A. revenue; debit
B. expense; credit
C. liability; debit
D. liability; credit

I think the answer is D.

1 answer

Answer D is appropriate, The accounts payable entry is found on a balance sheet under the heading current liabilities. It so similar to the Bills payable and Tax payable.
Similar Questions
  1. Linking debit or credit with normal balanceC5 Indicate whether a debit or credit decreases the normal balance of each of the
    1. answers icon 1 answer
    1. answers icon 0 answers
    1. answers icon 2 answers
  2. Which of the following statements is incorrect?a. The normal balance of accounts receivable is a debit. b. The normal balance of
    1. answers icon 1 answer
more similar questions