Which of the following accounts would be classified as anominal account and have a normal balance of a debit?retained earningsO prepaid insuranceO unearned revenuesalary expenseaccounts payablerental revenuemore than one of the above accounts is correct

A nominal account is one of the accounts that gets closed at the end of the accounting period. These…

Answered: Which of the following accounts would…

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter6: Merchandising Transactions

Section: Chapter Questions

Problem 23MC: Which of the following accounts would not be reported under revenue on a simple income statement? A....

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Which of the following accounts would be classified as nominal account and have a normal balance of a debit? retained earnings O prepaid insurance