A Company Has a Ten Million Dollar Debit Balance in the Payable

question 123

Multiple Choice

A company has a ten million dollar 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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