A general rule is that asset accounts will normally have debit balances. Liability and stockholders' equity accounts will normally have credit balances. Revenue accounts will have credit balances (since revenues will increase stockholders' or owner's equity).Is accounts receivable the same as debtors?
Debtors and Accounts Receivable. A debtor is someone who owes you money, normally because you have invoiced them for goods or services supplied. The invoice details what they owe and why. The process of managing debtors is often referred to as Accounts Receivable.Does accounts recievable have a debit balance?
An accounts receivable credit balance is the opposite of a debit balance, even though both are included on the balance sheet, since only the debit balance will include overpayments on accounts held by customers.