Normal Balances & Account Classification (10 pts)Below is a…
Normal Balances & Account Classification (10 pts)Below is a list of accounts. For each account, indicate (a) its normal balance (Debit or Credit) and (b) whether it belongs to Assets (A), Liabilities (L), or Equity (E).AccountNormal Balance (Dr/Cr)Classification (A/L/E)a. Accounts Receivable____________________________________________b. Unearned Revenue____________________________________________c. Common Stock____________________________________________d. Accumulated Depreciation____________________________________________e. Notes Payable____________________________________________f. Dividends____________________________________________g. Supplies____________________________________________h. Interest Payable____________________________________________i. Retained Earnings____________________________________________j. Equipment____________________________________________k. Wages Payable____________________________________________l. Prepaid Insurance____________________________________________m. Service Revenue____________________________________________n. Land____________________________________________o. Salaries Expense____________________________________________
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