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Earn +20 ptsQ: Normal Balance of a revenue
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What is normal balance of a revenue?
All revenue accounts has credit balance as a normal balance
What is the normal balance of rent revenue?
Rent is a revenue account and like all revenue accounts it has credit balance as normal balance.
Does interest revenue have a normal debit balance?
No, Interest Revenue is income and would normally have a credit balance.
Is Normal balance of revenue is a credit?
True.
Are revenue accounts increased by credits?
Revenue accounts have credit balance as a normal balance so credit is the way to increase the revenue account.
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