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Fathi Matbaq , Senior Purchasing Officer , Alghanim Industries
True, a credit balance is the ending amount found on the right side of a general ledger account or subsidiary ledger account.
A credit balance is normal and expected for the following general ledger and subsidiary ledger accounts:
• Liability accounts; for example accounts payable.
• Equity accounts; for example common stock.
• Revenue accounts; for example sales revenue.
• contra- assets accounts; accumulated depreciations.
• contra-expense accounts; purchases returns and allowances.
