Accounting Question – which accounts are debits or credits? Can you add them up to find the trial balance?
All of these are debits: Accounts receivable $1400 Prepaid insurance $240 Wages expense $200 Bills receivable $300 Cash in bank $2250 Drawings $2100 Motor vehicle $1430 Miscellaneous expense $210 Total $8130 All the rest are credits. Assets, expenses, contra – income and drawings are in the debit side. Liabilities, equities, contra – asset and revenues are in the credit side.
