Question

income and gains have debit balance credit balance all of the above and none of the above
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Answer 1

Explanation:

show the above

MARK AS BRAINLIEST

Answer 2

Explanation:

ANSWER

The 3 golden rules of accounting can be summarized into the following:

Debit - Assets, Expenses & Losses

Credit - Liabilities,Capital, Incomes & Gains

And hence,

Asset, Expense and Loss Accounts will show a Debit Balance at the year end

Liability,Capital, Income & Gain Accounts will show a Credit Balance at the year end

In the given question,

PARTICULARS NATURE OF ACCOUNT TYPE OF BALANCE

Capital A/c Capital Credit

Bank Loan Liability Credit

Bank Charges Expense Debit

Discount Received Gain Credit

Salary Payable Liability Credit

Bad Debt Recovered Income Credit