Question

What is credit balance due and debit balance due?

Answer 1

What is the difference between a debit and a debit balance ... A debit is an entry on the left side of an account. ... If the Cash account had $394,000 of debit amounts and $395,000 of credit amounts, the Cash account will have a credit balance of $1,000. This indicates that it has a negative amount of cash—that the amount of checks written is greater than the money it has received.

Answer 2

Answer:

What is the difference between a debit and a debit balance ... A debit is an entry on the left side of an account. ... If the Cash account had $394,000 of debit amounts and $395,000 of credit amounts, the Cash account will have a credit balance of $1,000. This indicates that it has a negative amount of cash—that the amount of checks written is greater than the money it has received.

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