Listed here are a number of accounts: Land, Common stock, Merchandise inventory, Equipment, Cost of goods sold,

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Listed here are a number of accounts: Land, Common stock, Merchandise inventory, Equipment, Cost of goods sold, Accounts receivable, Interest expense, Supplies, Long-term debt, Cash, Sales, Accounts payable, Buildings, Retained earnings.

Required:
Which of the accounts listed above are not assets? How would you categorize each of these nonasset accounts?

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Accounting What the Numbers Mean

ISBN: 978-0078025297

10th edition

Authors: David H. Marshall, Wayne W. McManus, Daniel F. Viele

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