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

Question

Quizplus · Accepted Answer

Sales is a revenue account, and revenue accounts have a credit balance. Sales discounts and Sales returns and allowances are contra revenue accounts, so they have debit balances. Therefore, the normal balances of Sales, Sales discounts, and Sales returns and allowances are Credit, Debit, and Debit, respectively.

Which of the Following Are the Normal Balances of Sales,Sales