What is the normal balance of the following accounts: (a) Cost of Merchandise Sold, (b) Delivery Expense, (c) Merchandise Inventory, (d) Sales, (e) Sales Discounts, (f) Sales Returns and Allowances, (g) Sales Tax Payable?
Answer:
a. debit
b. debit
c. debit
d. credit
e. debit
f. debit
g. credit