Question

What type of following accounts will have debit balance only?​

Answer 1

Explanation:

☆Accounts increased by debits A debit will increase the following types of accounts:

》Assets (Cash, Accounts receivable, Inventory, Land, Equipment, etc.)

》Expenses (Rent Expense, Wages Expense, Interest Expense, etc.)

》Losses (Loss on the sale of assets, Loss from a lawsuit, etc.)

》Sole proprietor's Drawing account.

.............hope itz clear....... ;)