Normal Balance: Debit or Credit?
Salaries and Wages Expense
debit
Short-term Investments
debit
Supplies
debit
Supplies Expense
debit
Utilities Expense
debit
accounts receivable
debit
advertising expense
debit
cash
debit
cost of goods sold
debit
depreciation expense
debit
dividends
debit
equipment
debit
income tax expense
debit
insurance expense
debit
interest expense
debit
interest receivable
debit
land
debit
long-term investment in stock
debit
merchandise inventory
debit
trucks
debit
Treasury stock
debit (contra-equity to total shareholders' equity)
Discount on bonds payable
debit (contra-liability from bonds payable)
Sales Returns and Allowances, Sales Discounts
debit (contra-revenue to sales)
Notes Payable (due in 3 months)
credit
Retained Earnings
credit
Salaries and Wages Payable
credit
Sales
credit
Unearned Revenue
credit
common stock
credit
gain on sale of equipment
credit
income taxes payable
credit
interest payable
credit
mortgage payable ($9,270 due this year)
credit
Allowance for Doubtful Accounts
credit (contra-asset to A/R)
accumulated depreciation-equipment
credit (contra-asset)
accumulated depreciation-trucks
credit (contra-asset)
interest income
credit (where does this go?)
Notes Receivable (due in 6 months)
debit
Prepaid Insurance
debit
