The classification and normal balance of the accounts receivable account is: _________.
i. an asset with a credit balance
ii. a liability with a debit balance
iii. an asset with a debit balance
iv. a revenue with a debit balance

The accounts receivable account records all the transactions involving customers who do business with the company on credit. Sales transactions are carried out with customers on a credit basis for later payment within the allowed credit period.

Thus, the classification and normal balance of the accounts receivable account is a current asset with a debit balance.

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The classification and normal balance of the accounts receivable account is: _________. i. an asset with a credit balance ii. a liability with a debit balance iii. an asset with a debit balance iv. a revenue with a debit balance

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What are the accounts receivable?

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The classification and normal balance of the accounts receivable account is: _________.
i. an asset with a credit balance
ii. a liability with a debit balance
iii. an asset with a debit balance
iv. a revenue with a debit balance