Hi Everyone,
Will the 'Loan receivable' T Account have a DR or CR balance transferred to the trial balance?
I was thinking that it should be transferred to the trial balance as a CR because it is a liability but on the 'AAT L3 ACPR Sample Test 1', they say it is a DR.
Please could anyone help?
Thank you in advance!
Will the 'Loan receivable' T Account have a DR or CR balance transferred to the trial balance?
I was thinking that it should be transferred to the trial balance as a CR because it is a liability but on the 'AAT L3 ACPR Sample Test 1', they say it is a DR.
Please could anyone help?
Thank you in advance!