What is the normal balance for purchases account


Response to the following questions:

1. What is the normal balance for each of the following accounts:

(a) Purchases?

(b) Sales Discounts?

(c) Purchases Returns and Allowances?

(d) Sales?

(e) Purchases Discounts?

(f) Sales Returns and Allowances?

2. What does an X under the total of a special journal's Other Accounts column signify?

3. What is the difference between a cash discount and a trade discount?

If possible, please give examples to better understand your response.

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Accounting Basics: What is the normal balance for purchases account
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