Which of the following accounts appear in the liabilities section of the balance sheet?
A)Accounts payable,notes payable,allowance for doubtful accounts
B)Warranties payable,discount on notes payable,accounts payable
C)Notes payable,discount on notes payable,credit card receivables
D)Accounts payable,allowance for doubtful accounts,warranties payable

Question

Quizplus · Accepted Answer

Accounts payable,warranties payable,and discount on notes payable,which is a contra liability account,all appear in the liabilities section of the balance sheet.The allowance for doubtful accounts and credit card receivables appear in the assets section of the balance sheet.

Which of the Following Accounts Appear in the Liabilities Section