Question

Loan credit balance is shown under​

Answer 1

Answer:

The side that increases (debit or credit) is referred to as an account’s normal balance. Remember, any account can have both debits and credits. Here is another summary chart of each account type and the normal balances.

Account Type Normal Balance

Asset DEBIT

Liability CREDIT

Equity CREDIT

Revenue CREDIT

Expense DEBIT

Exception:

Dividends DEBIT