Which of the following would appear in the credit column of an adjusted trial balance?
A)Income tax payable.
B)Cost of goods sold.
C)Prepaid insurance.
D)Interest receivable.

Question

Quizplus · Accepted Answer

The credit column of an adjusted trial balance includes all liability accounts, such as income tax payable. Cost of goods sold and prepaid insurance are expense accounts that appear in the debit column, while interest receivable is an asset account that also appears in the debit column.

Which of the Following Would Appear in the Credit Column