NORMAL BALANCE Definition

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NORMAL BALANCE, in accounting, is the side of an account, whether debit or credit, to which increases to the account are recorded.

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AGING OF RECEIVABLES see ACCOUNT AGING.

MARKET DISCOUNT BOND is any bond having market discount except: short-term obligations with fixed maturity dates of up to 1 year from the date of issue, tax-exempt obligations that you bought before May 1, 1993, U.S. savings bonds, and certain installment obligations.

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