[Answer] What group of accounts normally has a credit balance?

Answer: Liabilities and Owner's Equity

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What group of accounts normally has a credit balance? Office Supplies debit ; Accounts Payable credit The business entity concept means that the entity is an individual economic unit for which data are recorded analyzed and reported The accounts that have a normal credit balance include contra-asset liability gain revenue owner's equity and stockholders' equity accounts . In contrast accounts that normally have a debit balance include the asset loss contra-liability owner's drawing dividend and expense accounts. A credit balance is normal and expected for the following accounts: Liability accounts such as Accounts Payable Notes Payable Wages Payable Interest Payable Income Taxes Payable Customer Deposits Deferred Income Taxes etc. Hence a credit balance in Accounts Payable indicates the amount owed to … which group of accounts normally has a credit balance: liabilities and stockholders equity ; assets and expenses; equity and assets; assets and liabilities. liabilities and stockholders equity . which group normally has a debit balance: Liabilities revenues and sales gains and owner equity and stockholder...

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