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Author Question: A company has a $9,554 credit balance in the cash account. Given this information, which of the ... (Read 61 times)

craiczarry

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A company has a $9,554 credit balance in the cash account. Given this information, which of the following is a TRUE statement?
◦ It is NOT normal for the cash account to have a credit balance.
◦ This is NOT a normal account balance—companies don't normally have this much cash on hand.
◦ It is ALWAYS normal for the cash account to have a credit balance.
◦ Not enough information provided, since normal account balances are different for each company.


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Marked as best answer by craiczarry on Feb 18, 2020

lorealeza77

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craiczarry

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Reply 2 on: Feb 18, 2020
Great answer, keep it coming :)


xoxo123

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

 

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