For the following accounts used by a retail business, determine the normal balance of each account (i. e., does the account normally have a debit or a credit balance?). mark each either debit or credit

Debit Credit

Freight-out

Income Summary with Net Income

Sales Discounts

Sales

Freight out - Debit

Income Summary with net income - Credit

Sales discounts - Debit

Sales - Credit

Explanation:

First, we consider the description of the listed items and then determine their placements

Freight-out represents an expense that is related to transporting goods out the organisation to customers who have made purchases. As such it will have a debit balance as an expense

Income summary with net income - this simply means the amounts reported in the income summary shows a credit side that is higher than the debit side, meaning income is higher than expenses. Hence, it will have a credit balance.

Sales Discounts is a figure or an amount that reduces sales, hence if sales goes on the credit side, sales discount will show on the debit side.