The type of account and normal balance of Petty Cash is a?

1 answer

Answer

1237234

2026-03-22 02:01

+ Follow

Petty Cash is a current asset (it both has value and is liquidated in less than 12 months).

Since Petty Cash is an asset, its normal balance is a debit, as asset accounts are debits.

ReportLike(0ShareFavorite

Copyright © 2026 eLLeNow.com All Rights Reserved.