Question

Which account may appear as a credit balance in a trial balance?

a) Carriage outward
b) Discount received
c) Drawings
d) Inventory

Answer 1

Answer:

Ledger balances are segregated into debit balances and credit balances. Asset and expense accounts appear on the debit side of the trial balance whereas liabilities, capital and income accounts appear on the credit side.

Explanation:

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