Question

The balance of a revenue account has a normal balance of $473.44. If the account is credited in the amount of $38.64, and the account is debited in the amount of $130.77, what is the new balance? What would be the new balance if it was an asset account instead of a revenue account?

Answer 1

473.44+38.64=512.08. 512.08-130.77=381.31

Step-by-step explanation:

They start with $473.44, then they are credited (or added) $38.64 to there account so now they have $512.08. But then they are debited (to subtracted) $130.77 so their final balance would be $381.31