State for Each Account Whether It Is Likely to Have

question 16

Essay

State for each account whether it is likely to have
(a) debit entries only,
(b) credit entries only, or
(c) both debit and credit entries when recording business transactions during the month. Also, indicate the normal balance of each account.
1.Fees Earned
4.Supplies
2.Utilities Expense
5.Cash
3.Accounts Payable
6.Accounts Receivable