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(Solved): Normal Balance: Debit (DR) or Credit(CR) Account Type: Income Statement (IS), Balance Sheet (BS) or ...



Normal Balance: Debit (DR) or Credit(CR)

Account Type: Income Statement (IS), Balance Sheet (BS) or Retained Earnings (RE)

Account Group: Current assets  (CA)

Fixed assets (FA)

Accumulated depreciation (AD)

Current liabilities (CL)

Long term liabilities (LL)

Shareholders’ equity (SE)

Revenue (RV)

Cost of sales (CS)

Purchases (PC)

Cost and expenses (CE)

 

      

Number

Description

Normal

Balance

Account

 Type

Account

Group

1030

Petty Cash

 

 

 

1100

Accounts Receivable

 

 

 

1520

Office Equipment

 

 

 

2520

Accumulated Depreciation Equipment

 

 

 

3100

GST/HST Payable

 

 

 

3500

Bank Loan

 

 

 

4100

Retained earnings

 

 

 

4600

Sales Returns

 

 

 

5100

Purchase Discounts

 

 

 

6090

EI Expense

 

 

 

 



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In accounting, the normal balance of an account refers to the side of the account where the balance is typically found. For example, if an account has
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