Which of the following groups of accounts contains only those that normally have credit balances?
A) Accounts Payable; Retained Earnings; Service Revenue.
B) Equipment; Cash; Contributed Capital.
C) Notes Payable; Wages Payable; Rent Expense.
D) Accounts receivable, Retained earnings, Cash

Question

Quizplus · Accepted Answer

Accounts Payable, Retained Earnings, and Service Revenue are all accounts that typically have credit balances.

Which of the Following Groups of Accounts Contains Only Those