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Lev, Tax Preparer
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Experience:  Personal Investment, Tax Preparation
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what account normally has a credit balance

Resolved Question:

What accounts normally have credit balances, Prepaid Taxes, Interest Income , rent expense, Prepaid taxes
Submitted: 10 years ago.
Category: Finance
Expert:  Lev replied 10 years ago.

Asset and expense accounts normally have a debit balance; liability, income, and owner's equity accounts normally have a credit balance.

So, Interest Income is the final answer.

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