Consider the following information: a. Accounts receivable b. Salaries payable c. Office supplies d. Land e. Contributed
Question:
a. Accounts receivable
b. Salaries payable
c. Office supplies
d. Land
e. Contributed capital
f. Notes payable
Required
Indicate whether each of the above items is an asset (A), a liability (L), or part of equity (E). Accounts Receivable
Accounts receivables are debts owed to your company, usually from sales on credit. Accounts receivable is business asset, the sum of the money owed to you by customers who haven’t paid.The standard procedure in business-to-business sales is that...
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