The Accounts Receivable account is
A) a revenue, and it has a normal debit balance.
B) an expense, and it has a normal credit balance.
C) an asset, and it has a normal debit balance.
D) a liability, and it has a normal credit balance.

Question

Quizplus · Accepted Answer

Accounts Receivable is an asset account, which represents the amount of money owed to the company by its customers for goods or services that have been sold on credit. It has a normal debit balance, meaning that any increase in Accounts Receivable is recorded as a debit, and any decrease is recorded as a credit.

The Accounts Receivable Account Is