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Earn +20 ptsQ: When does an account shows credit balance?
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When the debtors account shows the credit balance?
When business receives money in advance....
Can you close a credit card account if there's a balance on that account?
You can, but you'll still have to pay the balance monthly until it's paid off. Incidentally, if you're closing an account to help your credit, research shows that closing accounts in good standing can often ding your credit.
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.
Why is a capital account has credit balance?
The normal balance in a capital account is a credit. Capital is a balance sheet account. Assets = Liabilities + Capital
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?
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