Accounts Receivable Debit Or Credit
Here we will study about the very basic question Regarding Accounts Receivable that is “Accounts Receivable Debit Or Credit In Accounting”? You may also be interested in " Accounts Payable Debit Or Credit " Accounts Receivable is the amount of debts due from customers for the goods sold on Credit Basis or Services rendered by the business to its customers on account. Accounts Receivable is a Current Asset which is convertible into Cash Very Quickly. As the Normal Balance for Assets is Debit, so Accounts Receivable (Debtor) has Debit Balance and not Credit Balance. What Is The Normal Balance For Accounts Receivable? The General Rule of Debit or Credit for Accounts Receivable is that when it increases it is debited and if it decreases, then it is credited but the favourable or normal balance is Debit that is the closing balance in Control Ledger and this closing balance is transferred to Balance Sheet. Credit Bal...