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Discuss accounts that have a normal credit balance

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Reference no: EM131774517

In accounting it is necessary to understand which accounts have a debit balance and which accounts have a credit balance. (1) Name 2 accounts that have a normal debit balance and name 2 accounts that have a normal credit balance. Give an example of a journal entry when a company purchases land for $5000 by paying cash using the debit/credit rules.

Reference no: EM131774517

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