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This happens when someone pays too much money on their credit card statement. You have money "on credit" in addition to your credit limit. These amounts can be refunded but will usually remain in the account until you charge using the card again, then those funds will be applied towards your purchases on credit.
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Is a credit balance an unpaid balance owed?
a "credit balance" is money that you have.
Is withdrawal a debit or credit balance?
it is a debit balance because it decreases owner's equity, which has credit balance.
How do I transfer the balance on my credit cards?
You will have to talk to you credit card company. They will be able to assist you in transferring your balance on your credit cards.
What does chase balance transfer stand for?
A balance transfer is the transfer of balance in an account or a credit card to another account.It also refers to transfer of outstanding balance from one credit card to another credit card.
Can you transfer a spouse's credit balance to credit card?
Yes, you can transfer any balance you want to your credit card. Note if you transfer the balance to your credit card, you are now liable for the full debt and not him unless he is an authorized user on the credit card.
Is a credit balance an unpaid balance owed?
a "credit balance" is money that you have.
Is interest earned a debit or credit?
All earnings and revenues has credit balance as normal balance so interest earned also has credit balance as default normal balance.
Is contributed capital normally a credit or debit balance?
it is a credit balance
Is an increase in Capital Stock a credit in the normal balance of an account?
Yes capital stock has credit balance as a normal balance so increase is also has credit balance.
Is product sales normally debit or credit?
Sales revenue has a credit balance as a normal balance so product sales also has credit balance as normal balance.
Is withdrawal a debit or credit balance?
it is a debit balance because it decreases owner's equity, which has credit balance.
Is a Credit balance in vendor subsidiary account is an unpaid balance?
Is a credit balance in a vendor subsidiary account an unpaid balance owed?
To increase note payable is debit or credit?
Notes payable has credit balance as normal balance so credit will increase the notes payable balance.
Which type of account has a normal credit balance?
All liabilities as well as income accounts has normal credit balance and also profit has credit balance.
Is admission revenue credit or debit in balance sheet?
Credit side of balance sheet.....Revenue is an Owners Equity account therefore has a Credit Balance.
What does it mean to transfer credit card balance?
To transfer a credit card balance means to use the available credit on one credit card to pay off the balance of another credit card. This is often done by credit card holders to pay back a balance at a lower rate.
When does accounts receivable have a credit balance?
If an account has a credit balance the customer must have overpaid on their account or a credit was issued by the company and posted to the customers account, resulting in a credit or negative balance.
