Which of the following are the respective normal balances of Sales, Sales discounts, and Sales returns and allowances?
A) Debit, credit, and credit
B) Debit, debit, and credit
C) Credit, debit, and debit
D) Credit, credit, and debit

Question

Quizplus · Accepted Answer

Sales normally have a credit balance as they increase equity. Sales discounts and sales returns and allowances decrease revenue, thus they have a debit balance.

Which of the Following Are the Respective Normal Balances of Sales