A Company Has a $26,329 Debit Balance in the Payable

question 110

Multiple Choice

A company has a $26,329 debit balance in the payable accounts. Given this information, which of the following is a TRUE statement?

• A)It is NOT normal for payable accounts to have a debit balance
• B)Not enough information provided, since normal account balances are different for each company.
• C)Payable accounts don't tend to run this high, so this is not a normal balance.
• D)It is ALWAYS normal for payable accounts to have a debit balance.

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