A credit purchase of a business expense item should be recorded with a debit to an expense account and a credit to Accounts Payable.  True False

A credit purchase of a business expense item should be recorded with a debit to an expense account and a credit to Accounts Payable.  True False

Asset accounts normally have credit balances and expense accounts normally have debit balances.  True False

A company sells merchandise to a customer on credit. The journal entry to record this transaction would include a debit to the Accounts account.

9.  An entry that results in a debit to an expense account and a credit to a related liability account is an example of which category of adjusting entries?

What is the natural account balance for provisions? A. Debit and Credit B. Credit C. No balance D. Debit