A Revenue Account Has a Normal ___________ Balance

question 77

Short Answer

A revenue account has a normal ___________ balance.

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Definitions:

Retirement Fund

A financial arrangement designed to replace employment income upon retirement, accumulated through contributions from employers, employees, or both.

Notes Payable

Financial obligations or loans that a company promises to repay by a certain date, often evidenced by a promissory note.

Interest Expense

The cost incurred by an entity for borrowed funds, reflected as an expense on the income statement.

Maturity Date

The date on which a financial obligation, such as a note, bond, or loan, becomes due and is to be paid off.