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Which of the following reactions is NOT balanced?
Liability Account
An accounting record used to track obligations the company owes to others, such as loans, leases, or accounts payable.
Expense Account
An account in which businesses record and track expenditures related to specific activities, such as travel or entertainment, for accounting purposes.
Credit Postings
Entries made on the credit side of an account, indicating an increase in liabilities, revenue, or equity and a decrease in assets.
Debit Postings
Entries made on the left side of a ledger account, indicating an increase in assets or expenses or a decrease in liabilities, equity, or revenue.
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