Identify the group of accounts that are NOT SHOWN IN THE DEBIT COLUMN of the Trial Balance. O a. Purchase, sales returns, discount allowed O b. Sales, purchase returns, loan O c. Salary, wages, water bill d. Cash, bank, debtors

Identify the group of accounts that are NOT SHOWN IN THE DEBIT COLUMN of the Trial Balance. O a. Purchase, sales returns, discount allowed O b. Sales, purchase returns, loan O c. Salary, wages, water bill d. Cash, bank, debtors

Financial Accounting: The Impact on Decision Makers

10th Edition

ISBN:9781305654174

Author:Gary A. Porter, Curtis L. Norton

Publisher:Gary A. Porter, Curtis L. Norton

Chapter3: Processing Accounting Information

Section: Chapter Questions

Problem 3.6E: Normal Account Balances Each account has a normal balance. For the following list of accounts,...

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Concept explainers

Bookkeeping

Bookkeeping is the process of recording the financial transactions of a company on a regular basis. With the process of bookkeeping, companies can track important financial information that helps management in making crucial decisions.

Question

Identify the group of accounts that are NOT SHOWN IN THE DEBIT COLUMN of the Trial Balance.
O a. Purchase, sales returns, discount allowed
O b. Sales, purchase returns, loan
O C. Salary, wages, water bill
O d. Cash, bank, debtors

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