A debit balance in which of the following accounts would indicate a likely error?
A) Salaries Expense
B) Notes Payable
C) Accounts Receivable
D) Supplies

Question

Quizplus · Accepted Answer

A debit balance in the Notes Payable account would indicate that the company owes more money than it actually does, which is likely due to an error in recording the transaction. A debit balance in the other accounts listed (Salaries Expense, Accounts Receivable, Supplies) is not necessarily an error and can be normal depending on the transactions recorded.

A Debit Balance in Which of the Following Accounts Would