Symbolism of Plants, Trees, and Herbs. This page is a compilation of the Symbolic Powers of the Flora Kingdom. We in no way imply or advocate that this information be used for medical or consumptive purposes.
normal account balance. Type of balance expected of a particular account based on its balance sheet classification. Normally, asset and expense accounts have debit balances, and equity, liability, and revenue accounts have credit balances. Also called normal balance.
Contra Asset Account. A regular asset account typically carries a debit balance, so a contra asset account carries a credit balance. Two common contra asset accounts include allowance for doubtful accounts and accumulated depreciation. Allowance for doubtful accounts represents the percentage of accounts receivable a company believes it cannot collect. Allowance for doubtful accounts offsets a companyâs accounts receivable account.