{"id":2322,"date":"2022-08-16T10:38:11","date_gmt":"2022-08-16T08:38:11","guid":{"rendered":"https:\/\/topfigurefitness.cz\/?p=2322"},"modified":"2024-05-07T21:36:54","modified_gmt":"2024-05-07T19:36:54","slug":"normal-debit-and-credit-balances-for-the-accounts","status":"publish","type":"post","link":"https:\/\/topfigurefitness.cz\/normal-debit-and-credit-balances-for-the-accounts\/","title":{"rendered":"Normal Debit and Credit Balances for the Accounts"},"content":{"rendered":"
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There also does not have to be a correlation between when cash is collected and when revenue is recognized. A customer may not pay for the service on https:\/\/www.bookstime.com\/<\/a> the day it was provided. Even though the customer has not yet paid cash, there is a reasonable expectation that the customer will pay in the future.<\/p>\n To show how the debit and credit process works within IU\u2019s general ledger, the following image was pulled from the IUIE database. Employees who are responsible for their entity\u2019s accounting activities will see a file such as the one below on more of a day-to-day basis. This general ledger example shows a journal entry being made for the payment (cash) of postage (expense) within the Academic Support responsibility center (RC). This account is a non-operating or \u201cother\u201d expense for the cost of borrowed money or other credit. When an account produces a balance that is contrary to what the expected normal balance of that account is, this account has an abnormal balance. A potential or existing investor wants timely information by which to measure the performance of the company, and to help decide whether to invest.<\/p>\nWhat is the Normal Balance for Owner\u2019s Withdrawals or Dividends?<\/h2>\n