For the Following General Ledger Accounts, Identify the Normal Balance

question 46

Essay

For the following general ledger accounts, identify the normal balance of the account.
Example: Accounts Payable Credit
Accounts Receivable
Building
Cash
Common Shares
Dividends
Equipment
Inventory
Land
Notes Payable
Office Equipment
Office Supplies
Rental Expense
Service Revenue
Travel Expense
Utilities Expense
Wages Expense

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Definitions:

Potential Virtues

Inherent qualities or traits in individuals that may lead to moral excellence if properly developed.

Diagnose

The process of identifying a disease or condition from its symptoms.

French Organizations

Organizations that are based in France or operate under French cultural, legal, and business practices.

Power Sharing

The distribution of decision-making authority and influence among various stakeholders or team members in an organization.