BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -Liabilities, revenue, and owner’s capital accounts normally have credit balances.

Detailed explanation-2: -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.

Detailed explanation-3: -Bank Overdraft. A credit balance in cash book indicates a bank overdraft.

Detailed explanation-4: -Liability, revenue, and owner’s capital accounts normally have credit balances.

Detailed explanation-5: -Since Cash is an asset account, its normal or expected balance will be a debit balance.