Indicate Whether Each of the Accounts Listed Below Normally Will $\quad$

question 123

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Indicate whether each of the accounts listed below normally will have a debit or a credit balance.Record your answer to the left of each account by entering either Dr or Cr. 1. Short-term irvestrnents $\quad$$\quad$$\quad$$\quad$ Cr $\quad$ 6
2. Bad debt experse $\quad$$\quad$$\quad$$\quad$$\quad$$\quad$ Dr $\quad$ 2
3. Sales reveruue $\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$ Dr $\quad$ 7
4. Sales discourts $\quad$$\quad$ $\quad$$\quad$$\quad$$\quad$$\quad$ Cr $\quad$ 5
5. Unearned reverue $\quad$$\quad$$\quad$$\quad$$\quad$$\quad$ Dr $\quad$ 4
6. Allowance for doubtful accourts $\quad$$\quad$ Dr $\quad$ 8
7. Sales retuns ard allowarces $\quad$$\quad$$\quad$ Cr $\quad$ 3
8. Notes receivable $\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$ Dr $\quad$ 1

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Definitions:

Days' Payable Outstanding

A financial metric that calculates the average number of days it takes a company to pay its invoices from trade creditors.

Accounts Payable

The amounts a business owes to its lenders or suppliers for transactions involving goods and services bought on credit.

Conversion Costs

The combined costs of direct labor and manufacturing overhead, required to transform raw materials into finished goods.

Work in Process Inventory

The value of goods in production but not yet completed, often considered an asset on the balance sheet.