The account format that displays debits credits balances and headings is called a T- Account.
A T-account is a visual representation of transactions that is used to help understand transaction of individual ledger accounts and the effects of each transaction.
So , a T-account helps in organizing and summarizing transactions in an individual ledger which includes displaying credit and debit balances under the heading credit and debit.
So for the question to
The account format that displays debits credits balances and headings is called____?
It is called T-Account. Do read why.