Final answer:
Estimated Revenues Not Yet Realized typically has a net credit balance, reflecting expected but unrealized income in accrual accounting.
Step-by-step explanation:
During the year, Estimated Revenues Not Yet Realized will commonly have a net credit balance. This account is used in accrual accounting to recognize revenue that is estimated to be received but hasn't yet been realized in cash or assets. In other words, it's a way of recognizing future income that the company is expecting based on contracts or other formal agreements before it actually comes into the company's possession. This concept is rooted in the revenue recognition principle, which dictates that revenue should be recognized when it is earned or when the transfer of goods or services is complete, rather than waiting for the actual cash receipt.